The chart-topping album, which featured instant classic Seven Nation Army, beat out discs from Arcade Fire and Bob Dylan to land at number one on the 20 Albums That Shook The Last 20 Years list created to mark the 20th anniversary of British music magazine Mojo.
Radiohead were the only act to land two albums in the top 20 - OK Computer at four and In Rainbows at 14 - and releases by The Strokes, Flaming Lips and Fleet Foxes made the top 10.
The top five is:
1. The White Stripes - Elephant
2. Arcade Fire - Funeral
3. Bob Dylan -Time Out Of Mind
4. Radiohead - OK Computer
5. The Strokes - Is This It