The star's official first set Channel Orange came out on top in HMV's poll of polls, which draws together the choice of UK music writers to create a definitive list.
Jack White came in second place with Blunderbuss, while Tame Impala landed at three with Lonerism.
Jessie Ware is the highest placed UK artist on the list with her debut album Devotion at six, while British band The Maccabees are at nine with Given To The Wild.
"It's no surprise that Frank Ocean has come so high up in many critics' top tens," HMV music manager John Hirst said.
"Frank has also earned a great deal of credit in the way he has challenged hip-hop stereotypes. I think we're going to hear a lot more from him."
Meanwhile, the UK's biggest-selling album of the year, Emeli Sandé's Our Version Of Events, placed at number 46 on the list.
The top 10 albums in HMV's poll of polls 2012 are as follows:
1. Frank Ocean: Channel Orange
2. Jack White: Blunderbuss
3. Tame Impala: Lonerism
4. Grimes: Visions
5. Grizzly Bear: Shields
6. Jessie Ware: Devotion
7. Kendrick Lamar: Good Kid, M.A.A.D City
8. Beach House: Bloom
9. The Maccabees: Given To The Wild
10. Alt-J: An Awesome Wave
Watch Frank Ocean perform 'Thinkin Bout You' below: