Critics label the Phil 'a world-beater'.
In a Top 20 list of the World's Greatest Orchestras, the London Symphony Orchestra, in fourth place, was the sole UK representative.
The Royal Concertgebouw of Amsterdam tops the list. The Berlin Philharmonic, under Music Director Sir Simon Rattle (the Liverpool Phil's Artist Laureate 2008) and the Vienna Philharmonic are listed second and third respectively.
On the Liverpool Phil, the panel remarked: "When Vasily Petrenko became the orchestra's principal conductor in 2006, he became the youngest person to hold the position in its 165-year-old history. With his appointment, an ensemble with a distinguished pedigree of principal conductors cemented its commitment to promoting classical music as a valid art form for contemporary audiences."
Michael Eakin, the Phil's chief executive, said: "Lists of any kind are contentious, of course, but we are delighted to be recognised in such distinguished company."
Vasily Petrenko conducting the RLPO - highly praised by experts