The top 30 rankings for student cities, produced by the QS higher education data analysts, had previously put Montreal and Paris in first place, the BBC reported.
The ratings are based on factors such as the number of top universities in a city, the local jobs market, the diversity of the culture and the quality of life, according to the report.
But London ranked poorly on one factor - affordability.
The ranking of university cities, rather than the quality of institutions, is produced by the QS higher education group, which publishes the annual World University Rankings.
The comparisons, which include a survey of the views of 50,000 students, are an attempt to quantify some of the attractions and disadvantages of cities for students, the BBC said.
In second place is Tokyo, which does very well in terms of the "desirability" of the city. This measures factors such as safety, pollution and quality of living, it said.
Melbourne is ranked as the third best city for students and Sydney is ninth.
In the academic World University Rankings, US universities dominate, taking all four of the top places in a league table headed by the Massachusetts Institute of Technology.
(This story has not been edited by Social News XYZ staff and is auto-generated from a syndicated feed.)
