The top 10 list, compiled by respected boxing outlet BoxRec, sees Mayweather Jnr come out comfortably on top, having never tasted defeat during 21 years as a professional.
Philipino great Manny Pacquiao ranks second, Argentine great Carlos Monzon is ranked third ahead of legendary fighter Muhammad Ali who is in fourth.
Aside Tyson – who is plotting a comeback to the ring this year at the age of 53 – other notable absentees are Evander Holyfield, Rocky Marciano and Roberto Duran.
Tyson, who retired in 2005, holds the record for being the youngest heavyweight champion of the world at the age of 20, and finished his career in 2005 with a record of 50 wins, 6 losses and 2 no contest verdicts.
But it is Mayweather, who has an imperious 50-0 record, who tops the ranking having won multiple world titles in five different weight classes.
Known for his speed and accuracy as opposed to his knockout ability, Mayweather was also the highest earning athlete in the world from 2012-2015, according to Forbes.
His long-awaited fight against Pacquiao took place in 2015 in Las Vegas, with the American coming out on top in the richest bout of all time.
Pacquiao, who has served as a senator in his native Philippines since 2016, has a record of 62 wins, 7 losses and 2 draws, and is the only eight-division world champion in the history of boxing.
Finishing off the top three is Monzon, who held the undisputed world middleweight championship for seven years as he dominated opponents in the 1960s and 1970s.
Other famous names in the Top 10 list are Sugar Ray Robinson in fifth, Bernard Hopkins in sixth and Oscar De La Hoya, in ninth.