Cambridge has come top in the annual Complete University Guide list for 2014.
It is the third year in a row that Cambridge has beaten Oxford to the top spot, which dropped to third place last year, behind London School of Economics.
The list uses nine measures including academic services spend, entry standards, student satisfaction, staff-student ratios, research assessment and graduate prospects to determine the position of 124 British universities.
Cambridge managed to edge its way ahead of Oxford in all but two of the nine criteria - both the academic services spend, the amount spent on libraries and IT, and the percentage of graduates achieving a first or upper second class honours degree.
Subjects also received an individual ranking. Cambridge was top in 34 of the 46 subjects offered.
Besides Oxford and Cambridge, the top ten includes London School of Economics, Imperial College London, Durham, St Andrews, University College London, Warwick, Bath, and Exeter in tenth place.
Dr Bernard Kingston, principal author of the Complete University Guide, said it was "beyond dispute" that the table's top 10 "includes some of the world's finest higher education institutions".