"To win the World's Best Low Cost Airline Award for 16 years in a row is nothing short of incredible," said Tony Fernandes, the airline's CEO and co-founder as cited by CNN.
Singapore's Scoot ranked second, followed by India's Indigo.
Germany's Eurowings came in fourth and Spain's Vueling Airlines ranked fifth.
The rest of the top 10 were Volotea, Transavia, Iberia Express, Flynas and easyJet.
The awards were based on a survey of around 22.3 million customers, with more than 325 airlines featured this year.