U.S. singer Lady Gaga waves as she arrives for a welcoming ceremony inside the Taichung City Hall building, central Taiwan July 3, 2011.[Photo/Agencies]

Lady Gaga has been named the most powerful female celebrity in the world by Forbes.

The 'Hair' singer has beat Oprah Winfrey to a higher position on the annual World's 100 Most Powerful Women list compiled by the business and finance analysts, but could only reach number 11 in the total list.

Oprah Winfrey Network owner and former chat show host Oprah is placed at number 14, dropping from third place in 2010.

No showbiz stars made the top ten of the list, which is comprised of politicians and businesswomen including German Chancellor Angela Merkel at number one and other entrants US Secretary of State Hillary Clinton, Chief Operating officer of Facebook Sheryl Sandberg and Christine Lagarde, the Managing Director of the International Monetary Fund (IMF).

Gaga topped a celebrity-only version of the list earlier this year, with Forbes giving the reason as "not just because of her $90 million in earnings, but also because of her 32 million Facebook fans and 10 million twitter followers".

Other notable figures on the list include Britain's Queen Elizabeth II at number 49, supermodel and environmentalist Giselle Bundchen, who is placed at number 60, and Editor-in-Chief of Vogue magazine Anna Wintour, at number 69.

Forbes World's 100 Most Powerful Women list, top ten:

1. Angela Merkel, German Chancellor

2. Hillary Clinton, U.S. Secretary of State

3. Dilma Rousseff, President of Brazil

4. Indra Nooyi, Chief Executive, PepsiCo

5. Sheryl Sandberg COO, Facebook

6. Melinda Gates, Cofounder, Cochair, Bill & Melinda Gates Foundation

7. Sonia Gandhi, President, Indian National Congress Party

8. Michelle Obama, First Lady of the United States

9. Christine Lagarde, Managing Director, International Monetary Fund

10. Irene Rosenfeld, CEO, Kraft Foods