Wearing nothing but jeans and a smoldering look, the 29-year-old actress graces the cover of the magazine's November issue.
Kunis grabbed the title from last year's winner Rihanna.
"If I wanted to charm the pants off you, I could. I think that if I bought into the hype, I would lose all sight of who I am, and so much of who I am is what my parents went through and instilled in me. And I never want to lose that. Ever. Because I would be so disappointed if I didn't make them proud," she said.
Kunis has been making headlines for her high-profile, PDA-packed romance with her That '70s Show co-star, Ashton Kutcher.