The actor topped a survey by Forbes to find the star who pulls in the most money for movie bosses, with LaBeouf earning an estimated $81 (£54) in profit for every $1 (67p) he is paid.
The 24 year old, who has appeared in a string of high profile blockbusters including Transformers: Revenge of the Fallen and Indiana Jones and the Kingdom of the Crystal Skull, topped the same poll last year (09).
Anne Hathaway, whose hit Disney movie Alice in Wonderland recently passed the $1 billion mark at the worldwide box office, came in second, followed by Daniel Radcliffe, Robert Downey, Jr. and Cate Blanchett.
The Along Came a Spider writer earned an estimated $70 million (GBP46.7 million) in the last year, while Meyer, whose vampire novels have been transformed into a hit Hollywood franchise, was paid $40 million (GBP26.7 million).
Horror author Stephen King was third on the list with $34 million (GBP22.7 million) and Danielle Steel placed fourth, with $32 million (GBP21.3 million).
They were followed by Ken Follett, Dean Koontz, Janet Evanovich and John Grisham.
Meanwhile, The Notebook writer Nicolas Sparks and Harry Potter's J.K. Rowling rounded out the top 10.
The Miss Congeniality star's career is at an all-time high despite her personal woes - she's landed at number one as the highest-earning actress over the last year, taking in $56 million (£37.3 million) between June 2009 and June 2010.
Forbes editors looked at income from film roles in addition to money that stars might have earned from perfume deals, clothing lines and ad campaigns.
Securing Bullock's top spot were her roles in The Proposal and The Blind Side - which won the star her first Oscar last year (09), for best leading actress.
Witherspoon and Diaz followed, each earning about $32 million (£21.3 million).
The pair is followed by Jennifer Aniston in fourth place with $27 million (£18 million), and Sex & the City star Sarah Jessica Parker, who ranks fifth on the list with $25 million (£16.7 million).
Bullock's home life was rocked earlier this year (10), when news of her ex-husband Jesse James' alleged affairs hit headlines. The ex-couple's divorce was finalised in June (10), shortly after Bullock revealed she and James had adopted a baby boy.
The media queen lands at number one for the fourth time with an estimated $315 million (£210 million) fortune from the last 12 months, while Beyonce is a distant second with $87 million (£58 million) from tour and album sales, together with fashion and fragrance deals and endorsements.
Winfrey retains the top spot on the list from Angelina Jolie, who slips to 18th on the new Forbes countdown.
Lady Gaga also makes the top five for the first time with an estimated $62 million (£41.3 million) and Avatar director James Cameron and shamed golfer Tiger Woods also land at the top of the list.
The Knocked Up actor has topped a new poll by Forbes to find the stars making the most films and the most money for studios since 2005.
He beat out competition from veteran actor Morgan Freeman, who came second in the list, shooting nine movies which garnered more than $20 million (£13 million) in revenue.
Freeman's Invictus co-star Matt Damon came third, with eight high-earning movies in the last half-decade, while comic Will Ferrell came a close fourth.
Iron Man's Robert Downey, Jr. and Snakes On A Plane star Samuel L. Jackson are at five and six respectively, with seven films apiece.
Sandra Bullock and Meryl Streep are the only women to make the top 10 - they both have also starred in seven hit box office outings in the last five years.
Transformers actor Shia LaBeouf and Batman Christian Bale round out the top 10 with six high-grossing movies.
The filmmaker is taking a backseat to Back at the Barnyard's Todd Grimes, who will direct the comedy series for Lucasfilm.
According to a statement from the production company, the show will "look at the saga's characters with a playful and irreverent tone".
Robot Chicken creators Seth Green and Matthew Senreich will work as creative consultants on the project, while Brendan Hay of U.S. TV comedy the Daily Show has signed on as head writer.
Producer Jennifer Hill tells Daily Variety, "They'll be shaping the type of comedy we're looking for and the look of the show."
Lucas' Star Wars franchise has spawned merchandise, video games and spin-off series that have earned more than $22 billion over the last three decades, according to a 2007 report in U.S. magazine Forbes.
An air date has yet to be set for the new animated series.
The pair's Middle Earth lovers, Aragorn and Arwen, helped director Peter Jackson rake in $2.9 billion at the worldwide box office - making them the top-earning Hollywood couple, according to a new Forbes magazine list of duos who have appeared in at least two films together in the last 20 years.
Tobey Maguire and Kirsten Dunst's onscreen chemistry in the Spider-Man franchise pulled in $2.5 billion, while Leonardo DiCaprio and Kate Winslet's doomed relationships in 1997's Titanic and Revolutionary Road in 2008 earned a combined $1.9 billion.
Meanwhile, Shia LaBeouf and Megan Fox's adventurous affair in the two Transformers blockbusters took in $1.5 billion.
But Forbes editors predict the fourth place entry - Twilight lovers Robert Pattinson and Kristen Stewart - will have the most bite when the vampire franchise is completed.
Pattinson and Stewart's passionate relationship in the first two installments of the franchise has already grossed $1.1 - and two Twilight follow-ups have yet to hit cinemas.
George Clooney and Julia Roberts' flirtatious pairing in Ocean's Eleven and Twelve rounds out the top five couples with $847 million (£529 million).
Sam Worthington's romance with Zoe Saldana in the world's biggest-grossing film of all time, Avatar, was ineligible for the list because the duo has only starred in one film together.
TIGER WOODS' infidelity scandal hasn't harmed his earnings - the shamed golfer earned $64 million (£40 million) from endorsements in 2009, landing him at number one on Forbes magazine's list of top athlete brands. British soccer ace DAVID BECKHAM is a distant second with $18 million (£11.25 million).
Jones, who voiced Darth Vader in the epic sci-fi series, came top of the survey by American magazine Forbes, which rated stars on trustworthiness, awareness and appeal.
The 79 year old topped the poll ahead of Hanks in second and Fox in third.
Forbes writer Lacey Rose says, "The stars on our list tend to be endearing characters on and off screen."
Former Bahamas senator Pleasant Bridgewater and paramedic Tarino Lightbourne have been charged with conspiracy to extort $25 million (£17.2 million) from the actor and his wife Kelly Preston after their 16-year-old son Jett suffered a fatal seizure at the family's holiday home there in January 2009.
The allegations centre around a Refusal of Treatment/Transportation form, signed by Travolta, which the suspects allegedly threatened to release to the media.
In October (09), Senior Justice Anita Allen declared a mistrial after a jury member reportedly leaked the verdict to politicians. Jurors were still deliberating when lawmaker Picewell Forbes allegedly announced to an audience at a Progressive Liberal Party (PLP) convention that Bridgewater was "a free woman".
The retrial has been set for 6 September (10) and is expected to last four weeks.
The star's attorney, Michael Ossi, has insisted Travolta, who testified during the initial hearings, will fully cooperate with future proceedings and will testify again if necessary.
Ossi told reporters in October (09): "We are committed to seeing this through, and we are committed to seeing justice served. And whatever the prosecution asks us to do is exactly what we will do."