Hamilton earned $18,473,684 last year according to the magazine, which converts to around £11.2m.
That leaves him some way short of the two best-paid representatives on the list, American baseball star Alex Rodriguez and Filipino boxing sensation Manny Pacquiao - quoted as earning £19.4m last year.
Football dominates the list with 114 players included, many of whom are based in the UK.
The highest-paid footballer based in the Premier League on the list is Argentina's Carlos Tevez, who is said to have an annual salary of £11.52m, just below that of Real Madrid's Portuguese star Cristiano Ronaldo.
The top-paid Irish, Scottish and Welsh sports stars are all footballers in the form of John O'Shea, Darren Fletcher and Ryan Giggs respectively; Northern Ireland is represented by golfer Graeme McDowell.
The magazine says the annual salary figure they obtained "represents only base salary from the most recently completed season or calendar year from each sport, and excludes any other source of compensation, unless otherwise noted".
They added: "In countries where official salary figures were unavailable, we estimated the number based on information from multiple sources, including leagues, agents, consulates, embassies, sports federations, cultural centers and the UN."
See the list for each country below. All figures in US dollars.
$1 = £0.606651 GBP
Albania: Lorik Cana (Football) $2,500,000
Algeria: Nadir Belhadj (Football) $2,779,000
American Samoa: Domata Peko (American football) $2,950,000
Andorra: Ildefons Lima (Football) $531,822
Angola: Manucho (Football) $865,579
Argentina: Carlos Tevez (Football) $19,000,000
Armenia: Henrikh Mkhitaryan (Football) $360,000
Australia: Andrew Bogut (Basketball) $11,050,000
Austria: Thomas Vanek (Ice hockey) $6,400,000
Azerbaijan: Aleksandr Samedov (Football) $1,287,000
Bahrain: Abdullah Omar Ismail (Football) $202,086
Bangladesh: Shakib Al Hasan (Cricket) $425,000
Belarus: Alexander Hleb (Football) $3,300,000
Belgium: Vincent Kompany (Football) $5,340,000
Benin: Stephane Sessegnon (Football) $2,800,000
Bermuda: Reggie Lambe (Football) $480,000
Bolivia: Marcelo Moreno (Football) $883,449
Bosnia: Edin Dzeko (Football) $8,470,000
Botswana: Mogogi Gabonamong (Football) $354,000
Brazil: Felipe Massa (Motorsports) $17,052,632
Brunei: Darussalam Craig Adams (Ice hockey) $550,000
Bulgaria: Dimitar Berbatov (Football) $6,700,000
Burkina Faso: Charles Kabore (Football) $1,118,000
Burundi: Saidi Ntibazonkiza (Football) $315,000
Cameroon: Samuel Eto'o (Football) $8,000,000
Canada: Jason Bay (Baseball) $18,125,000
Cape Verde: Cafu (Football) $287,000
Central African Republic: Eloge Enza Yanissi (Football) $206,000
Chad: Misdongarde Betoligar (Football) $21,500
Chile: Mark Gonzalez (Football) $9,324,958
China: Yao Ming (Basketball) $17,700,000
Colombia: Juan Pablo Montoya (Motorsports) $5,088,410
Comoros: Kassim Abdallah (Football) $120,000
Cook Islands: Stan Wright (Rugby Union) $204,000
Costa Rica: Bryan Ruiz (Football) $1,720,828
Ivory Coast: Yaya Toure (Football) $18,200,000
Croatia: Luka Modric (Football) $4,900,000
Cuba: Yuniesky Betancourt (Baseball) $4,300,000
Curaçao: Jair Jurrjens (Baseball) $3,250,000
Cyprus: Constandinos Charalambides (Football) $1,589,000
Czech Republic: Petr Cech (Football) $7,400,000
Dem. Rep. of the Congo: Herita Ilunga (Football) $2,730,000
Denmark: Daniel Agger (Football) $4,500,000
Djibouti: Ismail Ahmed Kadar Hassan (Football) $51,500
Dominican Republic: Alfonso Soriano (Baseball) $19,000,000
Ecuador: Antonio Valencia (Football) $6,361,983
Egypt (Tie): Mohammed Zidan (Football) $2,580,000 and Mohamed Abu Treika (Football) $2,580,000
El Salvador: Arturo Alvarez (Football) $201,922
England: Lewis Hamilton (Motorsports) $18,473,684
Equatorial Guinea: Rodolfo Bodipo (Football) $430,000
Eritrea: Zersenay Tadese (Track and field) $340,000
Estonia: Ragnar Klavan (Football) $2,006,000
Ethiopia: Tilahun Regassa (Track and field) $318,250
Faroe Islands: Christian Holst (Football) $1,630,000
Fiji: Vijay Singh (Golf) $1,334,262
Finland: Kimi Raikkonen (Motorsports) $26,333,333
France: Franck Ribery (Football) $14,100,000
French GuianaL: Florent Malouda (Football) $3,441,823
Gabon: Daniel Cousin (Football) $645,000
Gambia: Ousman Jallow (Football) $314,000
Georgia: Zaza Pachulia (Basketball) $4,251,250
Germany: Dirk Nowitzki (Basketball) $17,278,618
Ghana: Michael Essien (Football) $5,500,000
Greece: Theodoros Papaloukas (Basketball) $4,400,000
Greenland: Jesper Gronkjaer (Football) $923,440
Guadeloupe: Mickael Pietrus (Basketball) $5,300,000
Guatemala: Carlos Ruiz (Football) $306,670
Guinea: Ibrahima Yattara (Football) $717,000
Guinea-Bissau: Almami Moreira (Football) $573,000
Haiti: Samuel Dalembert (Basketball) $12,200,000
Honduras: David Suazo (Football) $5,716,476
Hungary: Zoltan Gera (Football) $2,970,000
Iceland: Eidur Gudjohnsen (Football) $2,538,000
India: Ms Dhoni (Cricket) $1,800,000
Indonesia: Bambang Pamungkas (Football) $160,000
Iran: Hamed Haddadi (Basketball) $1,600,000
Iraq: Nashat Akram (Football) $900,000
Ireland: John O'Shea (Football) $6,800,000
Israel: Yossi Benayoun (Football) $6,859,267
Italy: Valentino Rossi (Motorcycling) $20,800,000
Jamaica: Ricardo Gardner (Football) $2,613,074
Japan: Ichiro Suzuki (Baseball) $18,000,000
Jordan: Odai Al-Saify (Football) $145,000
Kazakhstan: Nik Antropov (Ice hockey) $3,750,000
Kenya: McDonald Mariga (Football) $1,300,000
Kuwait: Bader Al-Mutwa (Football) $400,000
Kyrgyzstan: Mirlan Murzaev (Football) $150,000
Latvia: Andris Biedrins (Basketball) $9,000,000
Lebanon: Youssef Mohamad (Football) $1,074,839
Lesotho: Lehlohonolo Seema (Football) $34,300
Liberia: Sekou Oliseh (Football) $573,000
Libya: Tariq El Taib (Football) $1,130,000
Liechtenstein: Martin Stocklasa (Football) $978,800
Lithuania: Linas Kleiza (Basketball) $4,995,000
Luxembourg: Andy Schleck road bicycle racing $2,700,000
Macedonia: Goran Pandev (Football) $4,250,000
Madagascar: Anicet Andrianantenaina (Football) $86,000
Malawi: Tamika Mkandawire (Football) $571,000
Malaysia: Lee Chong Wei (Badminton) $106,000
Mali: Frederic Kanoute (Football) $8,600,000
Malta: Michael Mifsud (Football) $1,142,000
Martinique: Ronny Turiaf (Basketball) $4,000,000
Mauritania: Pascal Gourville (Football) $353,000
Mauritius: Diallo Guidileye (Football) $313,000
Mexico: Jorge De La Rosa (Baseball) $10,000,000
Moldova: Alexandru Epureanu (Football) $1,433,000
Mongolia: Hakuho (Sumo)$400,000
Montenegro: Mirko Vucinic (Football) $6,020,000
Morocco: Marouane Chamakh (Football) $4,247,000
Mozambique: Mate Simao Junior (Football) $516,000
Northern Ireland: Graeme McDowell (Golf) $5,176,586
Namibia: Collin Benjamin (Football) $1,000,000
Nepal: Santosh Sahukhala (Football) $8,430
Netherlands: Nigel De Jong (Football) $10,500,000
New Caledonia: Frederic Piquionne (Football) $2,972,339
New Zealand: Russell Coutts (Yachting) $10,000,000
Nicaragua: Vicente Padilla (Baseball) $2,000,000
Niger: Alhassane Issoufou (Football) $200,000
Nigeria: John Mikel Obi (Football) $5,800,000
Niue: Michael Junior Jackson (Track and field) $5,000
North Korea (Tie): An Yong-Hak (Football) $619,107 Jong Tae-Se (Football) $619,107
Norway: John Carew (Football) $4,500,000
Oman: Ali Al Habsi (Football) $3,000,000
Pakistan: Shahid Afridi (Cricket) $136,000
Palestine: Fadi Lafi (Football) $65,000
Panama: Carlos Lee (Baseball) $19,000,000
Papua New Guinea: Nev Costigan rugby league $216,667
Paraguay: Roque Santa Cruz (Football) $7,668,947
Peru: Claudio Pizarro (Football) $5,448,894
Philippines: Manny Pacquiao (Boxing) $32,000,000
Poland: Robert Kubica (Motorsports) $10,657,895
Portugal: Cristiano Ronaldo (Football) $19,500,000
Puerto Rico: Carlos Beltran (Baseball) $19,325,436
Qatar: Sebastian Soria Quintana (Football) $391,000
Republic of the Congo: Christopher Samba (Football) $3,000,000
Romania: Cristian Chivu (Football) $5,013,000
Russia: Andrei Kirilenko (Basketball) $17,822,187
Rwanda: Olivier Karekezi (Football) $52,000
Samoa: David Tua (Boxing) $500,000
San Marino: Aldo Simoncini (Football) $172,000
Saudi Arabia: Mohammed Noor (Football) $1,200,000
Scotland: Darren Fletcher (Football) $5,000,000
Senegal: DeSagana Diop (Basketball) $6,478,600
Serbia: Peja Stojakovic (Basketball) $15,602,138
Seychelles: Michael Mancienne (Football) $2,100,000
Sierra Leone: Madieu Williams (American football) $2,974,000
Singapore: Mardan Mamat (Golf) $500,609
Slovakia: Marian Hossa (Ice hockey) $7,900,000
Slovenia: Anze Kopitar (Ice hockey) $6,000,000
Somalia: Abdisalam Ibrahim (Football) $340,000
South Africa: Ernie Els (Golf) $5,347,012
South Korea: Ji-Sung Park (Football) $4,700,000
Spain: Fernando Alonso (Motorsports) $22,736,842
Sri Lanka: Mahela Jayawardene (Cricket) $1,500,000
Sudan: Luol Deng (Basketball) $11,355,850
Suriname: Clarence Seedorf (Football) $4,000,000
Swaziland: Tony Tsabedze (Football) $212,000
Sweden: Zlatan Ibrahimovic (Football) $12,700,000
Switzerland: Roger Federer (Tennis) $7,698,289
Syria: Sanharib Malki (Football) $400,000
Tahiti: Fabrice Santoro (Tennis) $19,500
Taiwan: Hong-Chih Kuo (Baseball) $2,725,000
Tajikistan: Farkhod Vasiev (Football) $145,000
Tanzania: Hasheem Thabeet (Basketball) $4,793,280
Thailand: Thongchai Jaidee (Golf) $1,400,000
Togo: Emmanuel Adebayor (Football) $11,900,000
Tonga: Chris Kemoeatu (American football) $2,369,000
Trinidad And Tobago: Anthony Herrera (American football) $1,425,000
Tunisia: Karim Haggui (Football) $820,000
Turkey: Hedo Turkoglu (Basketball) $9,800,000
UAE: Ismail Matar (Football) $360,000
Uganda: Mathias Kiwanuka (American football) $1,776,000
Ukraine: Vitali Klitschko (Boxing) $6-8M
Uruguay: Diego Forlan (Football) $7,169,746
U.S. Virgin Islands: Tim Duncan (Basketball) $18,700,000
USA: Alex Rodriguez (Baseball) $32,000,000
Uzbekistan: Maksim Shatskikh (Football) $120,000
Venezuela: Johan Santana (Baseball) $21,644,707
Vietnam: Lee Nguyen (Football) $180,000
Wales: Ryan Giggs (Football) $6,300,000
Zambia: Chris Katongo (Football) $315,300
Zimbabwe Benjani Mwaruwari (Football) $3,405,584
Eurosport
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