The long-running poll, compiled by UK based Eastern Eye newspaper, also features Pakistani singer-actor Ali Zafar in the third position.
Malik, 22, rose up from ninth position last year and came out on top following millions of votes from across the globe for the 12th edition of the popular annual poll. He has also become the youngest ever to top the list.
Popular Indian TV stars Barun Sobti and Vivian Dsena round up the top five.
Others in the top 10 are Fawad Khan (6), Salman Khan (7), Shahid Kapoor (8), Shah Rukh Khan (9) and Gurmeet Choudhary (10).
The highest placed newcomer in this year’s list is 24-year-old Indian television actor Parth Samthaan (11).
Other Bollywood names in the 2015 list include Ranbir Kapoor, Varun Dhawan, Ranveer Singh, Akshay Kumar, Rana Daggubati and Emraan Hashmi.
Kushal Tandon, Gautam Rode, Kunwar Amar, Rithvik Dhanjani, Harshad Arora, Shakti Arora, Mohit Sehgal, Shaheer Sheikh, Shabir Ahluwalia, Ravi Dubey and Gautam Gulati are among the TV actors in the list.
Virat Kohli is the only sportsman to make it to the list and 50-year-old Shah Rukh is the oldest in the 2015 countdown.
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