The cell phone, ranked eighth in the list, is ahead of both space travel and the combustion engine.
After its launch in 2007, more than 42 million of the gadgets have been sold.
The computer came fifth and Graham Bell’s telephone came sixth just ahead of Sir Alexander Flemming’s discovery of Penicillin.
A total of 4,000 consumers voted to rank some of the major inventions of the last 200 years, in the survey conducted by Tesco Mobile.
“All of the inventions included in this list have changed the world forever,” the Sun quoted Lance Batchelor, chief executive of Tesco Mobile, as saying.
He added: “Whether it be something as small as a paper clip, to something which changed the face of the universe like the combustion engine, these amazing feats have all been recognised as truly great.
“It’s amazing to see how much the iPhone is valued, sitting alongside inventions such as Penicillin in people’s perceptions and being declared a more important invention than miracle gadgets of their own time, such as the compass.”
Spell check made it to 86th, while power steering was placed at 50th and the TV remote control landed in 43rd.