Actor Javier Bardem stars in No Country for Old Men

Other films include Disney animated movie Ratatouille, thriller There Will Be Blood and drama Michael Clayton.

The Diving Bell and The Butterfly, Into the Wild, Before The Devil Knows You're Dead, Juno, Knocked Up and The Savages complete the top 10.

The list was compiled by a panel of filmmakers, reviewers and academics.

Most of the films have already received nominations in several high-profile award events.

The dark thriller No Country for Old Men was voted best picture by the New York Film Critics Circle.

Joel and Ethan Coen also collected awards for their direction and screenplay adapted from Cormac McCarthy's novel.

Their film received four nods at the Golden Globes and collected best film by the National Board of Review - which makes it an early contender for the 2008 Oscars.

British film Atonement, which was nominated for seven Golden Globe awards, was notably missing from the AFI list.