Indonesia's Bali ranked third while Thailand's Koh Samuicame in 9th and Phuket at 16th, based on 700,000 votes of readers that rated on criteria such as natural attractions, activities, food, friendliness and value.
Located in the Gulf of Thailand, Phu Quoc is known for its pristine beaches and luxurious resorts.
Phu Quoc received 500,000 foreign tourists in the first six months of this year, up 44% year-on-year, according to Kien Giang's Department of Tourism.
A series of South Korean celebrities have recently flocked to visit the island, boosting its profile on the global tourism map.
25 best islands in the world according to Travel+Leisure readers:
Maldives
Phu Quoc, Vietnam
Bali, Indonesia
Milos, Greek
Dominica
Crete, Greek
Hvar & Dalmatia, Croatia
Galápagos, Ecuador
Koh Samui, Thailand
Great Barrier Reef, Australia
Ischia, Italy
Cuba
Palawan, Philippines
Fiji
Golden Isles, US
Phuket, Thailand
Sicily, Italy
Anguilla
Moorea, French Polynesia
Corfu & Ionia, Greek
Sardinia, Italy
Madeira, Portugal
Skye & the Hebrides, Scotland
Paros, Greek
Zanzibar, Tanzani