The 18-year-old from Hyderabad, currently ranked 37 in the world, is the first Indian sportswoman and second Indian sportsperson after cricketer Sachin Tendulkar to adorn Time's cover.
In the list of Asian heroes 2005, Mirza shares the space with Chinese actress Zhang Jingchu, South Korean footballer Park Ji Sung and Japanese actor Ken Watanabe.
The tennis star, who is described by the magazine as a role model for women in India and the fastest rising star in the sport this year, features on the cover of the special issue of the magazine which hit the stands on Monday.
Sania made history in Indian tennis by becoming the first ever Indian to break into the top-50 WTA Tour rankings. She also became the first Indian woman to win a WTA tourney, when she lifted the Hyderabad Open in February 2005.
The 2003 Wimbledon junior doubles champion also beat several top-10 players and became the first Indian to reach the third round of Australian Open and the pre-quarter-finals of the US Open.
Picture courtsey Time Magazine