Priyanka, 30, defeated reigning champion Kareena Kapoor and three-times winner Katrina Kaif to claim the crown of sexiest Asian woman on the planet this year.
"Priyanka Chopra secured top spot with Kareena Kapoor coming second and Katrina Kaif third," Asian weekly Eastern Eye said.
A permanent fixture in the top three in recent years, the beauty queen turned A-list Bollywood star beat off very tough competition from some of the most stunning women from around the world.
"It has rounded off a dream year for Priyanka, which included a starring role in super-hit film Agneepath, delivering a superb performance in India's official entry to the Oscars, Barfi and launching an international pop career alongside chart-topping singer Will.i.am," the release added.
Clearly delighted with the win, Priyanka said: "I'm hugely flattered. Who wouldn't want to have a title like this bestowed on them! A big shout out to everyone who voted for me."
Eastern Eye showbiz editor Asjad Nazir, who annually puts together the popular list and is chairman of the judging panel believes a dream year will give Priyanka the perfect platform to possibly becoming a Hollywood star in 2013.
"The sheer diversity of the projects that Priyanka did in 2012 combined with her close connection to fans online worked in her favour and added to her already impressive fan base. That is why she was able to beat off pop stars, TV personalities, models and fellow film stars," said Asjad.
The biggest surprise of 2012 was the number of television actresses from India who entered the list for the first time.
'Ek Hazaaron Kein Meri Behna Hai stars Nia Sharma, who came fifth and Krystle D'Souza on 9th became the first ever TV actresses from India to crack the top 10.
Other Indian television actresses who made the list included Drashti Dhami (12), Sanaya Irani (13), Kritika Kamra (19), Jennifer Winger (21), Yashashtri Masurkar (24) and Asha Negi (32).
"The fact that so many television actresses made the top 50 showed that Bollywood is no longer the only dominant force in India and that television is playing a much bigger part in the lives of people around the world," added Asjad.
Other notable stars in this year's list include Deepika Padukone landed on the fourth spot, Bipasha Basu on the sixth, Sonam Kapoor on the seventh, Diana Penty (15), and Aishwarya Rai Bachchan (16).
The highest placed Pakistani was supermodel turned television personality Mehreen Syed (10) and the highest placed star from the west was once again Hollywood actress Noureen Dewulf (11), who is currently starring alongside Charlie Sheen in hit US sitcom 'Anger Management'.
Priyanka's cousin Parineeti Chopra (18), Rani Mukerji (22), Esha Gupta (23), Sussanne Roshan (25), Alia Bhatt (29), Giaa Manek (41) and singer Tasha Tah (47) were also included in the list.
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