Bar Refaeli is "happy and honoured" to be at the top of Maxim's 2012 Hot 100 list.
The 26-year-old announced her delight at being recognised as the magazine's sexiest woman of the year via her twitter page.
She wrote: "So happy and honored to be #1 on #Maximhot100! thank you @maximmag! This is very exciting."
She told the magazine which arrives on American newsstands May 29: "I am shocked that among all these beautiful ladies, I'm No. 1. Thank you so much for voting for me! I'm truly honoured. This is a title I will never forget."
This year was the first time the publication had their readers help decide who is on the rundown.
Bar recently starred in a new black and white TV advert to promote her new underwear line Under.Me.
Leonardo DiCaprio's ex-girlfriend was closely followed by 'Magic Mike' star Olivia Munn, who came in second place for the second year in a row.
'Friends With Benefits' actress Mila Kunis moved up from fifth to third place while 27-year-old 'The One That Got Away' singer Katy Perry dropped one position down to fourth from 2011.
Olivia Wilde jumped up from 15th place to fifth place while Kate Middleton's little sister Pippa Middleton debuted at No. 81.