Ryan makes an estimated $21 million from advertising on two accounts, Ryan ToysReview and Ryan's Family Review, and $1 million in sponsored posts, Forbes reports.
Forbes measured pre-tax earnings from June 1, 2017 to June 1, 2018, without deducting fees for agents, managers and lawyers.
Asked by NBC why his videos were so popular, Ryan said: "Because I'm entertaining and I'm amusing". The report states that almost 96 percent of his revenue came from ads while the remaining amount came from sponsored posts.
Coming in a close second on the list was former Disney actor Jake Paul, who earned a cool $29.3m during the same period.
His videos have a total of nearly 26 billion views over three years, with the most popular video on his channel seen 1.6 billion times, and the less-watched videos attracting at least 30 million views each.
Although Jake beat out his older brother, Logan Paul (who sits at the number 10 spot, just underneath YouTube king Felix 'PewDiePie Kjellberg), he wasn't too happy with his high placement - especially concerning who he lost to.
The store, in August, began selling a wide range of toys and clothing called Ryan's World, and a video showing him and his parents searching for his own toys at a Walmart store has had 14 million views in three months.
The toys featured in one of the channel's videos can sell out instantly.
A video titled "Top 10 Science Experiments you can do at home for kids" starring the three children has had more than 26 million views.
DanTDM was 2017's top earner, but dropped fourth place with 2018 earnings of $18.5 million.