The 'Young Forever' rapper's 'Blueprint 3' tour and other business ventures have helped secure him the top spot for the fourth time in five years.
P Diddy finished just behind in second place, with earnings of $35m (£21.6m) in the past year, with Jay-Z's Watch the Throne partner Kanye West coming third with $16m (£9.9m).
Lil Wayne and Birdman came joint fourth with $15m (£9.3), while Dr Dre, Snoop Dogg and Eminem finished in joint fifth place with $14m (£8.7m).
50 Cent and Nicki Minaj also featured in the Top 20 richest hip-hop artists, with combined earnings at around $271m (£167.6m).
Jay-Z and Kanye West last week unveiled their joint album Watch the Throne, which was released digitally worldwide on August 8.
Known as The Throne, the pair have also postponed their upcoming tour of North America.
Listen to The Throne's 'Otis' featuring Otis Redding below: