Top of the list is Alex Turner, the Arctic Monkeys singer, who topples last year's winner Pete Doherty. Doherty sinks to seventh in this year's list.
The Arctic Monkeys recently shot to number one with 'I Bet You Look Good on the Dance Floor".
Other artists making into the top 10 include Liam Gallagher, Ian Brown and Damon Albarn.
The cool list is supported by a free covermount CD featuring 16 tracks from the likes of The Cribs, The Test Icicles and Antony and the Johnsons.
Alex Needham, deputy editor at NME, said: "Featuring both elder statesmen and thrusting young turks, the NME Cool List is the one every musician wants to be on."
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