Lund in southern Sweden was again picked as Sweden's top university and came 73rd in the QS World University Rankings, but dropped three ranks on last year (and down from 60 in 2014).
Eight Swedish universities feature in the QS rankings, and all but three fell in the global list.
The ancient Uppsala University climbed back to the top 100, landing a spot in 98th place. Further down the list, Linköping and Umeå Universities both edged up to 282nd and 294th place, up from 286th and 319th, respectively.
The Royal Institute of Technology (Kungliga Tekniska Högskolan, KTH) dropped from 92nd to 97th place. Gothenburg-based Chalmers University of Technology fell from number 132 to 139 (which is still an improvement on its 175th place in the 2014 QS World University Rankings).
Lund was given a five-star ranking in addition to its place in the list. "Lund is Sweden's most attractive study destination. The compact university campus encourages networking and creates the conditions for scientific breakthroughs and innovations," read the QS description.
"The university has a clear international profile, with partner universities in over 70 countries. Funding of more than 5 billion kronor a year goes to research at eight faculties, which gives Lund one of Sweden's strongest and broadest ranges of research activity."
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Now in their 13th year, the annual rankings are compiled by global higher education analysts Quacquerelli Symonds (QS), and rank 916 institutions according to four key pillars: research, teaching employability and internationalization.
For the first time in more than a decade US universities took all three top spots, with MIT placing first for the fifth successive year ahead of Stanford and Harvard, knocking Britain's Cambridge to fourth.
Tuesday's list comes less than a month after the Shanghai Rankings, which picked the Karolinska Institute as the best university in Sweden.