Qatar-based Al Jazeera came first in an online survey that looked at a brand's trust, recognition and adaptability, Forbes Arabia said.
"[The] list looks at companies that have created strong brands not only in Arab countries but that are also gaining recognition worldwide," Sulaiman al-Hattlan, editor of the Arabic edition of Forbes magazine, said.
Nineteen countries took part part in the survey.
The list of 40 brands, the first complied by Forbes Arabia, was dominated by firms based in the United Arab Emirates.
Emirates, the largest Arabian airline, was one of 19 UAE companies on the list, which will be published in the magazine's November issue.
Among the others was Dubai-based Al-Arabiya, a Saudi-owned broadcaster that is one of the main rivals of Al Jazeera.
Many Gulf firms are expanding beyond the region as governments look to invest record oil revenues.
At number 10 in the list was Emaar Properties, the largest Arab developer by market value, which bought US homebuilder John Laing Homes for $1.05 billion in June.
Nakheel, a state-owned developer that is building three palm-frond shaped islands off the coast of Dubai, was ranked 30th, one place ahead of Mecca Cola, which is promoted by its makers as an Islamic alternative to Western soft drink brands.
The online survey was conducted for Forbes Arabia by UK market research firm YouGov.
Only companies operating in all Arabic-speaking countries were eligible for the list, the magazine said.