Leonardo Dicaprio's ex-girlfriend is ''honoured'' about the achievement.
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.