Three other cities make up the word's top five: Tokyo, Sydney and London in that order.
The survey provides students and parents with insights into the merits of study locations, especially those intending to study abroad.
It highlights the world's best cities in the following key areas: university quality, affordability, lifestyle, employment prospects and student community.
Additional factors such as pollution, safety, transparency and tolerance are also taken into consideration.
Number one overall
This considered factors such as safety, healthcare, educational resources, infrastructure and environment.
La Trobe University has three Melbourne locations: its main Melbourne Campus, its City Campus in Collins St, and it's Franklin Street Campus.
* To qualify for the QS Best Student Cities survey, cities must have at least two internationally ranked higher education institutions and a population of 250,000 or more.