US universities are the top universities, according to an annual league table published by the Times Higher Education magazine.
There are 72 US institutions in the top 200, and all five top places, including Harvard at number one, California Institute of Technology at number two, and Massachusetts Institute of Technology in third.
Only five British universities are ranked in the world’s top 50.
Cambridge and Oxford are joint sixth, Imperial College London is ranked ninth, University College London is 22nd and Edinburgh is 40th, according to the 2010-11 World University Rankings.
In all, the UK – which has historically viewed its higher education sector as world-leading – has just 14 universities in the top 100.
Countries which have invested heavily in higher education, like China, South Korea and Canada, are performing well, warned magazine editor Ann Mroz.
“Our rankings are the major global benchmark of worldwide university performance, used by academics, students and policymakers to make important decisions,” she said. Last year British universities accounted for four out of the top 10, with eight in the top 50 and 18 in the top 100.
Organisers said a new method of compiling the list, which places less emphasis on reputation and heritage, makes it difficult to interpret movement up or down since last year as a change in performance.
But survey editor Phil Baty added: “We do contend, however, that these tables are realistic, and so in some cases they may deliver an unpleasant wake-up call that the days of trading on reputation alone are coming to an end.”
The survey weighted various criteria for consideration including teaching, research and the mix of students and staff.
It also found:
• Technology-focused universities are ranked highly, with the California Institute of Technology in second and Massachusetts Institute of Technology in third.
• The only university outside North America and the UK in the top 20 is the Swiss Federal Institute of Technology in Zurich.
• Mainland China has six institutions in the top 200, more than any other country in Asia, overtaking Japan for the first time.
• Only two Australian institutions are in the top 50, and only seven in the top 200.
British universities had a better showing in the QS World University Rankings, which were published last week.
Cambridge was placed first, with Harvard second and Yale third.
Other British universities in the top 10 included University College London in fourth, Oxford in sixth and Imperial College London in eighth.
Dr Wendy Piatt, director-general of The Russell Group of leading universities, said: “The real story behind all world league tables is that our universities still punch way above their weight on the world stage.”
Top 20 universities
1. Harvard University
2. California Institute of Technology
3. Massachusetts Institute of Technology
4. Stanford University
5. Princeton University
6. University of Cambridge
6. University of Oxford
8. University of California, Berkeley
9. Imperial College London
10. Yale University
11. University of California, Los Angeles
12. University of Chicago
13. Johns Hopkins University
14. Cornell University
15. University of Michigan
15. Swiss Federal Institute of Technology, Zurich
17. University of Toronto
18. Columbia University
19. University of Pennsylvania
20. Carnegie Mellon University