The top ten list also includes Boracay in the number-three spot.
Announcing the results of the survey, the magazine said: “For the second year in a row, the Philippine paradise Palawan wins first place as the best island in the world, thanks to its hidden lagoons, teeming ocean life, and rustic-luxe resorts.” Palawan also took the top spot in 2013.
Palawan got a high score of 93.15, with one fan saying “it’s the single most beautiful place on earth.”
Others described it as “rustic”, “romantic”, “affordable” and “relaxing”.
Taking second place on the list was Hilton Head Island, South Carolina. Making up the top five were the Galapagos Islands and Santorina in Greece.
Palawan is made up of the eponymous main island, in addition to some 1,800 surrounding islets and island outposts.
The magazine said: “And with its verdant mountains, a five-mile-long underground river, limestone caves and spectacular scuba diving, its appeal is as clear as its turquoise waters.”