The 40-year-old actress tops the magazine's annual list of the "World's Most Beautiful," announced Wednesday.
Commenting on her selection, Paltrow says: "Around the house, I'm in jeans and a T-shirt. I don't really wear makeup."
She credits her workout routine for keeping her looking young and feeling strong.
Paltrow is married to Coldplay rocker Chris Martin. They have two children, Apple, 8, and Moses, 7.