The 31-year-old, who features on the cover of the September issue of the men's magazine, came in ahead of last year's FHM winner Katrina Kaif to claim the coveted title.
Speaking to The Times of India, the Heroine star said: "It is always wonderful to feel sexy and hot. And when it comes from Maxim, which truly recognises hotness in a woman, then it is even better.
"Hotness is about how a woman carries herself. It is not just about a thin waist and long legs. It is about the entire package. I am glad that you guys find me hot and I definitely take it as a big compliment."
The 3 Idiots star is currently in Dubai for the promotion of the eagerly-awaited Heroine.
Along with director Madhur Bhandakar and the film's producer Siddharth Roy Kapur, the actress addressed assembled media aboard a city cruise ship.
The film releases worldwide on September 21.
A short teaser for the new song from Heroine, 'Main Heroine Hoon' has been released.
Watch the teaser below: