His left-wing Canadian counterpart Justin Trudeau lavished praise on Mr Albanese for his profile in this year's 2023 list.
The prime minister is listed alongside other world leaders including US President Joe Biden, Japanese Prime Minister Fumio Kishida, and Ukraine's war-time first lady Olena Zelenska.
Mr Trudeau wrote there was no better person than Mr Albanese to embody the progressive vision of people succeeding in life, no matter their background or humble beginnings.
"From growing up in public housing to taking office last spring as Australia's new prime minister, he is a symbol of hope and inspiration," Mr Trudeau wrote for Time magazine.
The Canadian prime minister wrote Mr Albanese worked to "lift up and amplify" the voices of those who needed to be heard from, and particularly Indigenous people.
"His government supports those who need it most, believes that we need to take ambitious climate action, and unwaveringly supports democracy in the face of unprecedented threat," the profile reads.
Mr Trudeau wrote in an increasingly uncertain world, it was easy for politicians to sow fear and division for political gain, but the prime minister had taken the higher road.
"To choose the path of hope and opportunity takes immense courage, and that courage lives within Anthony Albanese," he wrote.
Every year the magazine compiles a list of the 100 most influential in six categories including artists, innovators, titans, leaders, icons and pioneers.
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