The 37-year-old has dethroned longtime earnings leader Jerry Seinfeld, who made $43.5 million.
This year, Kevin has appeared in the movies Central Intelligence, Ride Along 2 and Secret Life Of Pets.
He has also been taking part in his lucrative What Now? comedy tour.
The magazine compiled the estimated income from June 2015 to June 2016.
Amy Schumer made her list debut, landing in fourth place behind Terry Fator with earnings of $17 million.
The 35-year-old is the only woman to ever make the highest-paid comedians list.
Jeff Dunham was in fifth with $13.5 million, Dave Chapelle was next with $13 million and Jim Gaffigan earned $12.5 million for seventh place.
It’s set to be another successful year for Kevin, who is currently filming the Jumanji sequel alongside Dwayne “The Rock” Johnson, Karen Gillan, Nick Jonas and Jack Black.
The movie, which comes more than 20 years after the release of the 1995 original which starred Robin Williams, is scheduled for release in July 2017.
In the meantime, Kevin is working on an as yet untitled stand-up TV series and has two movies in the works.
He will be starring opposite Bryan Cranston in upcoming comedy/drama The Untouchables, and is also voicing a character in next year’s animated Captain Underpants movie.