His elaborate stunts have generated more than 10 billion views on the platform and earned him $54m (£39m).
He has overtaken 10-year-old toy reviewer Ryan Kaji, who has topped the annual list for the past two years.
Together, the 10 best-paid YouTubers made a combined $300m (£218m) in 2021, the US magazine estimated.
Jake Paul is in second place, his first appearance in the top 10 since 2018, and his brother Logan also returns after being absent since 2017.
Minecraft player Nathan Graham, known as Unspeakable, makes the list for the first time in fifth place.
YouTube trends expert Chris Stokel-Walker said this year's list is interesting because it shows "how stale" YouTube has become. "It strikes me how white and male this whole list is," he said.
"If you take any of the names and look at previous years' lists, you'll probably find them on there as well, just in a different order."