Gibbs became the first man in history to achieve the rare feat of six sixes in an over in a one-day match and only the third player to do so in all forms of cricket.
He launched into Dutch right-arm leg-break bowler Daan van Bunge in the 30th over, hitting him for five straight sixes and one to deep mid-wicket at the Warner Park ground during his robust 40-ball, 72.
Kallis, who finished unbeaten on 128, also plundered a hapless Dutch attack, hitting eleven boundaries and five sixes during his unbeaten 109-ball knock after South Africa were put in to bat in the Group A game.
Mark Boucher then piled on the agony with a rapid-fire 31-ball, unbeaten 75 which included nine boundaries and four sixes.
The match was reduced to 40-overs-a-side after overnight and early morning rain left the outfield wet and delayed the start by two-and-a-half-hours but once it started it rained sixes and boundaries.
South Africa hit 18 sixes in all beating Pakistan's record of most sixes in a one-day innings of 14 hit against Sri Lanka at Nairobi in 1996-97.
The 33-year-old Gibbs followed West Indian great Sir Gary Sobers and India's Ravi Shastri who both hit six sixes in an over but they came in first class cricket.
Sobers was the first to reach the landmark playing for Nottinghamshire against Glamorgan at Swansea in 1968 with Malcolm Nash the bowler taking the punishment.
Former India all-rounder Ravi Shastri then equalled the feat playing for Bombay against Baroda in 1984.
Gibbs finally holed out to van Bunge at long-on off Dutch captain Luuk van Troost in the 31st over.
The South African star hit seven sixes and four boundaries during his thrilling knock.
Kallis, who watched Gibbs' onslaught at the other end, reached his 15th one-day hundred off 97 balls studded with ten boundaries and two sixes.
South African skipper Graeme Smith hit a 59-ball 67 with six boundaries and a six after his team had lost opener AB de Villiers, caught behind off the second ball of the innings to paceman Billy Stelling.
South Africa struggled to four runs in the first five overs before Smith lifted the first of 18 sixes in the innings to initiate the charge.
Peter Borren had Smith caught in the outfield but Gibbs carried on his assault.
The historic feat will also cost a leading drinks firm one million dollars.
The Johnnie Walker company had already agreed to donate the money to charity in honour of the first player to register the landmark.
Gibbs also erased Sanath Jayasuriya's record of most runs in a one-day over which stood at 30 -- achieved twice against Pakistan's Aamir Sohail in Singapore in 1996 and New Zealander Chris Harris at Sharjah five years later.
South Africa 353 for 3 in 40 overs (Kallis 128 n o, Gibbs 72, Boucher 75 n o, Smith 67; Stelling 1 for 43, Borren 1 for 52, van Troost 1 for 59) Vs Netherlands (yet to bat).