The interferometric synthetic aperture radar (InSAR) data set, acquired by the TanDEM-X (TerraSAR-X add-on for Digital Elevation Measurement) mission (TDM), represents a unique data source to derive geo-information products at a global scale. The complete Earth’s landmasses have been surveyed at least twice during the mission bistatic operation, which started at the end of 2010. Examples of the delivered global products are the TanDEM-X digital elevation model (DEM) (at a final independent posting of 12 m × 12 m) or the TanDEM-X global Forest/Non-Forest (FNF) map. The need for a reliable water product from TanDEM-X data was dictated by the limited accuracy and difficulty of use of the TDX Water Indication Mask (WAM), delivered as by-product of the global DEM, which jeopardizes its use for scientific applications, as well. Similarly as it has been done for the generation of the FNF map; in this work, we utilize the global data set of TanDEM-X quicklook images at 50 m × 50 m resolution, acquired between 2011 and 2016, to derive a new global water body layer (WBL), covering a range from −60∘ to +90∘ latitudes. The bistatic interferometric coherence is used as the primary input feature for performing water detection. We classify water surfaces in single TanDEM-X images, by considering the system’s geometric configuration and exploiting a watershed-based segmentation algorithm. Subsequently, single overlapping acquisitions are mosaicked together in a two-step logically weighting process to derive the global TDM WBL product, which comprises a binary averaged water/non-water layer as well as a permanent/temporary water indication layer. The accuracy of the new TDM WBL has been assessed over Europe, through a comparison with the Copernicus water and wetness layer, provided by the European Space Agency (ESA), at a 20 m × 20 m resolution. The F-score ranges from 83%, when considering all geocells (of 1∘ latitudes × 1∘ longitudes) over Europe, up to 93%, when considering only the geocells with a water content higher than 1%. At global scale, the quality of the product has been evaluated, by intercomparison, with other existing global water maps, resulting in an overall agreement that often exceeds 85% (F-score) when the content in the geocell is higher than 1%. The global TDM WBL presented in this study will be made available to the scientific community for free download and usage.