The latest Academic Ranking of World Universities (ARWU) has seen Australia's Monash University Clinical Medicine and Pharmacy Faculty ranked 34th in the world and the second in Australia.
This represents a jump from last year's 76th and third positions, the university has said.
Reuters international rankings placed Monash as Australia's second most innovative university across Asia, while the Victorian university moved from an estimated rank of 114th to 79th globally in the overall Academic Ranking of World Universities in August.
It was also ranked 4th in the world for Pharmacy and Pharmacology in the 2016 QS World University rankings by Subject.
Professor Christina Mitchell, Monash Dean of Medicine Nursing and Health Sciences said it was an outstanding result for staff and students, highlighting the faculty's commitment to international collaboration & research excellence.
Monash continues to be ranked in the top 200 in all five of the ARWU field rankings including Natural Sciences and Mathematics (ranked second in Australia); Engineering/Technology and Computer Sciences; Life and Agriculture Sciences; Clinical Medicine and Pharmacy; and Social Sciences, Mitchell said.
Professor Bill Charman, Dean of the Faculty of Pharmacy and Pharmaceutical Sciences, said "This significant improvement reflects the capacity of our life science and pharmaceutical researchers to undertake high quality basic research, as well as pursuing translational opportunities in partnership with industry and government in an increasingly cross-disciplinary manner.
"Such outcomes have also been reflected in the increasing number of our staff recognised as Highly Cited Researchers."
ARWU has been presenting the world top 500 universities annually since 2003, based on objective indicators and third-party data.
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