A new global ranking of universities was just released and in a not-so shocking turn of events, the University of Toronto was ranked one of the best in the world. 

Out of 1,500 universities worldwide, U of T came in at number-18 on the 2020 U.S. News Best Global Universities list.

The study ranks schools based on academic research and reputation, and this year's edition includes 250 more schools than last year's.

"As the Best Global Universities rankings continue to expand in number of schools and subjects to fulfil the needs of prospective students, we remain consistent in our mission to evaluate schools around the world on their research," said Robert Morse, chief data strategist at U.S. News.

"A major emphasis on academic research is what sets this methodology apart from our other university rankings."

Unsurprisingly, all the top 10 schools in the overall ranking are found in either the U.S. or the U.K., with Harvard University maintaining its spot as the number-one school in the world. 

Here are the top 20 universities according to the report. 

1. Harvard University, United States
2. Massachusetts Institute of Technology (MIT), United States
3. Stanford University, United States
4. University of California Berkeley, United States
5. University of Oxford, United Kingdom
6. California Institute of Technology, United States
7. Columbia University, United States
8. Princeton University, United States
9. University of Cambridge, United Kingdom
10. University of Washington Seattle, United States
11. Johns Hopkins University, United States
12. Yale University, United States
13. University of Chicago, United States
14. University of California Los Angeles, United States
15. University of California San Francisco, United States
16. University of Pennsylvania, United States
17. University of Michigan, United States
18. University of Toronto, Canada
19. University of California San Diego, United States
20. Imperial College London, United Kingdom

The list in its entirety includes schools from 81 countries, and the U.S. has the most schools on the list with a whopping 249.

Forty Canadian universities made it onto the list, with only three making it into the top 100: U of T, UBC and McGill University. 

While the study is simply meant to serve as a ranking of schools all over the world, it's also meant to be a guide for students potentially looking to study abroad. 

"Many prospective students are looking to other countries for their education," said Anita Narayan, managing editor of Education at U.S. News.

"The Best Global Universities rankings give these students a starting point for their search. In addition to the rankings, students should also consider their fluency in the language of instruction, the fields of study that the school offers and the costs that come from studying in another country."