The 14-year-old Stranger Things star joined the likes of Prince Harry, Meghan Markle and rapper Cardi B on this year’s prestigious list.
Brown rose to fame with her role as the character Eleven in the hugely popular science fiction TV show, in which she first starred when she was 12 years old.
Other famous figures who made the Time magazine list, which is published every year, include singers Rihanna, Kesha and Shawn Mendes.
US President Donald Trump and North Korean leader Kim Jong-un also made the list.
Of Brown’s success, Beraking Bad actor Aaron Paul called her an "extraordinary" actress.
"She may have been 12 in years, but her spirit and mind were timeless," he told Time, speaking of first meeting the teenager in New York.
"A wise woman was speaking from her cherubic face.
"It was like speaking to a future mentor with a perspective and groundedness that I could only have dreamed of at that age. Or at any age, if I'm being honest."