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Credit: Idil Demirdag

Of the thousands and thousands of universities in the world, Penn is No.10, according to the Times Higher Education University Rankings list. Penn also ranked as the No. 7 university in the United States. 

Released on Sept. 5, the 14th annual edition of the list ranks 1,000 institutions of higher education and is the first to feature such a large number of schools. Penn tied with the Swiss Federal Institute of Technology Zurich for the 10th slot internationally. 

According to the ranking, the two best universities in the world are the University of Oxford and the University of Cambridge. The California Institute of Technology and Stanford University are tied for third place. 

Penn is ranked as the third best Ivy League school, following Harvard University and Princeton University, which placed sixth and seventh internationally. In 2016, Penn ranked as the 17th best university in the world.

To create the ranking, Times Higher Education used 13 performance indicators which were grouped into five categories including quality of teaching and the influence of research affiliated with the institution. 

Qualifications to be featured on the list include publishing at least 1,000 articles between 2012 and 2016 and offering education to undergraduates.

The World University list features almost 160 US colleges and universities from nearly every state and roughly 130 cities. California was the most represented state with 13 universities included in the ranking. 

Finishing seventh among America's top universities appears to be a trend of sorts for Penn. In August, Forbes named Penn seventh among its list of "America's Top Colleges."