Fisher-Price comes in at second, followed by Barbie in third.
Business valuation and strategy consultancy Brand Finance has unveiled its list of this year's 25 most valuable toy brands.
LEGO came out on top, with a brand value of $4.5bn. Continual growth, success with films and television and the brand’s rapid expansion in China proved key factors in its position at number one.
Fisher-Price came in second place with a brand value of $886m, followed by Barbie in third with a brand value of $571m, a 20 per cent increase on its value in Brand Finance's 2015 listing.
The total brand value of the table is $9.4bn. The US is home to 16 brands in the table, Japan follows with seven brands and although Denmark has one brand in the table, its contribution via LEGO is higher than the total brand value of the US' 16 brands combined. The UK did not crack the list of 25.
My Little Pony, in 14th place, is the fastest growing toy brand this year, enjoying 40 per cent growth to a value of $141m. The growth has been attributed to the success of the TV series, My Little Pony: Friendship is Magic.
Two brands made it onto this year's list that were not on last year's Brand Finance list: Yo-Kai Watch (which debuted in 4th place) and American Girl (which debuted in 25th place).
Check out the full list below: