Josh Taylor has become the first Scot ever to feature on the list, slotting into ninth place between Juan Francisco Estrada and Gennady Golovkin.
The 29-year-old only made his professional debut five years ago, but remains unbeaten after 17 fights and has broken into the top 10 thanks to a stunning first-round knockout victory over Apinun Khongsong in October.
We’ll take a look at the top ten in more detail below:
10. Gennady Golovkin
38-year-old Golovkin may not be the force he once was in the middleweight division, having been ranked top of this list between September 2017 and 2018, but he still holds both the IBF and IBO titles.
He won the belts back when rival Canelo Alvarez vacated them, defeating Sergey Derevyanchenko by unanimous decision.
He had previously lost in a title fight to Alvarez in 2018 by majority decision, his first defeat in professional boxing.
9. Josh Taylor
Taylor is the reigning WBA (Super), IBF and The Ring champion at light-welterweight level, with 13 of his 17 victories coming via knockout.
He also lifted the Muhammad Ali Trophy last year after winning the 2018-19 World Boxing Super Series.
8. Juan Francisco Estrada
A world champion at two different weight divisions, Estrada is the current WBC and The Ring super flyweight title holder.
He has 41 wins from 44 fights, with his most recent win coming last month when he defeated Carlos Cuadras via TKO.
He has now been ordered by the WBC to negotiate a bout against Thai fighter Srisaket Sor Rungvisai, whom he has a record of one win and one loss against in the past.
7. Vasyl Lomachenko
Lomachenko’s loss to Teofimo Lopez via unanimous decision back in October has dropped him down this list, with the Ukrainian fighter close behind Alvarez at the top of these standings last time they were published.
The 32-year-old is a world champion in three different weight classes, as well as having won 396 fights at amateur level.
He also won gold medals at the 2008 and 2012 Olympics, as well as at the 2009 and 2011 World Championships.
6. Teofimo Lopez
Lopez’s victory over Lomachenko has allowed him to overtake the Ukrainian in the eyes of the Ring Magazine.
The 23-year-old is the current unified lightweight world champion, and is unbeaten in 16 professional fights.
His win over Lomachenko meant he became the youngest four-belt champion in the history of boxing.
5. Errol Spence Jr.
Spence Jr. hasn’t fought since September 2019, but keeps his place in the top 10 as he prepares to take on Danny Garcia in December.
The welterweight is another that is yet to taste defeat in professional boxing, having won all 26 of his fights.
He is the defending WBC and IBF welterweight champion, and is renowed as one of the best punchers in the division.
4. Oleksandr Usyk
Usyk took all the headlines last weekend when he defeated Dereck Chisora by unanimous decision to win the WBO Inter-Continental heavyweight title.
It wasn’t perhaps the dominating win that everyone expected, but it means that the Ukrainian remains undefeated with 18 wins from 18 fights.
The 33-year-old now has eyes set on the future and a potential fight with Anthony Joshua, whilst Joseph Parker has also expressed interest in fighting him.
3. Terence Crawford
Crawford became the first male boxer to hold all four major titles in boxing for over 10 years, and has continued to go from strength to strength throughout a glistening career.
He defeated Amir Khan by virtue of a sixth-round TKO in April 2019, and is set to defend his WBO welterweight belt next weekend when he takes on Kell Brook in Nevada.
Crawford is unbeaten after 36 fights as a professional, with 27 of those victories coming via knockout.
2. Naoya Inoue
Inoue successfully began his professional boxing career in the US with a knockout victory over Jason Moloney last month.
That has caused his Ring ranking to increase, with the Japanese fighter having held the WBA (Super), IBF and Ring titles at bantamweight level since 2019.
Inoue is one of the most powerful punchers on the circuit, and has an unbeaten 20-0 record at professional level.
1. Canelo Alvarez
Alvarez hasn’t fought since last year, although still holds his number one spot on the Ring list.
The Mexican is a four division world champion, and has 53 wins from 56 fights in professional boxing.
His only defeat came against Floyd Mayweather Jr. back in 2013, but he has gone on from strength to strength in the division, and recently defeated Sergey Kovalev via knockout.