For the second year in a row, Putin edges out US President Barack Obama for the top spot.
With the exception of Pope Francis, the top six people are all in politics.
The business world cracks the top 10 in the form of Google cofounders Sergey Brin and Larry Page, who are tied at No. 9.
At only 30 years old, Facebook CEO Mark Zuckerberg is the youngest person on the list, while the 90-year-old king of Saudi Arabia, Abdullah bin Abdul Aziz Al Saud, is the oldest.
Newcomers include Indian Prime Minister Narendra Modi and Alibaba CEO Jack Ma.
1. Vladimir Putin, President of Russia
2. Barack Obama, President of the US
3. Xi Jinping, General Secretary of the Communist Party of China
4. Pope Francis, Head of the Roman Catholic Church
5. Angela Merkel, Chancellor of Germany
6. Janet Yellen, Chair of the Board of Governors of the United States Federal Reserve System
7. Bill Gates, Co-chair of the Bill & Melinda Gates Foundation
8. Mario Draghi, President of the European Central Bank
9. Sergey Brin and Larry Page, Cofounders of Google
10. David Cameron, Prime minister of the United Kingdom
11. Abdullah bin Abdul Aziz Al Saud, King of Saudi Arabia
12. Warren Buffett, CEO of Berkshire Hathaway
13. Li Keqiang, Premier of China
14. Carlos Slim Helu, Honorary chairman of América Móvil
15. Narendra Modi, Prime Minister of India
16. Jeff Bezos, CEO of Amazon
17. Francois Hollande, President of France
18. Jamie Dimon, CEO of JPMorgan Chase
19. Ali Hoseini-Khamenei, Grand Ayatollah of Iran
20. Rex Tillerson, CEO of Exxon Mobil
21. Jeffrey Immelt, CEO of General Electric
22. Mark Zuckerberg, CEO of Facebook
23. Michael Bloomberg, CEO of Bloomberg
24. Charles Koch and David Koch, CEO and EVP of Koch Industries