Posh, 36, pipped pregnant X Factor judge Dannii Minogue, 38, to land the crown.
Max Factor compiled the Top 20 table to mark the launch of its Vibrant Curve Effect Lip Gloss, reports The Mirror.
A spokesman for Max Factor, which carried out the research, said: 'Victoria has been gracing the fashion pages for years now.'
Hollywood star Angelina Jolie came third in the poll of 3,000 women.
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