Page, who is Chief Executive Officer (CEO) and co-founder of Google, came on top in the 20 global corporate leaders' list compiled on the basis of various factors including company's performance, leadership style and total shareholder returns, the magazine said while bringing out its list.
Besides, five women have made the cut to the top 20 list.
Interestingly, Amazon's Jeff Bezos, who led Fortune list in 2012, failed to make in to the top 20 list.
As Google's core business continues to thrive, Page, who topped the list, is making "huge bets on new technology -ingestible nanoparticles, balloons that beam down broadband- that could define the future," the magazine noted.
Page and his company have packed a lot of evolution into just over 15 years of existence, it added.
The women contenders were Ultra Beauty CEO Mary Dillon, ITT CEO and President Denise Ramos, TJX Cos CEO Carol Meyrotwiz, Theranos Founder and CEO Elizabeth Holmes and Williams-Sonoma President and CEO Laura Alber.
The list is based on various parameters like financial results of the company including 12-month and three year growth in profits and revenues, company's stock performance and total shareholder returns over the same periods.
Besides, several non-financial elements like business influence, leadership style, strategic initiatives played a part in evaluation.