By combining precision metrology and quantum networks, we describe a quantum, cooperative protocol for the operation of a network consisting of geographically remote optical atomic clocks. Using non-local entangled states, we demonstrate an optimal utilization of the global network resources, and show that such a network can be operated near the fundamental limit set by quantum theory yielding an ultra-precise clock signal. Besides serving as a real-time clock for the international time scale, the proposed quantum network also represents a large-scale quantum sensor that can be used to probe the fundamen- tal laws of physics, including relativity and connections between space-time and quantum physics. Prospects for realization of such networks will be discussed.