Scholastic Parent & Child magazine ranks the 60-year-old book at number one, ahead of Margaret Wise Brown's popular picture book Goodnight Moon.
JK Rowling's Harry Potter debut, The Sorcerer's Stone, which represents the hit seven-book series, is sixth on the list.
Dr. Seuss' Green Eggs and Ham also makes the top 10 at seven.
Suzanne Collins' bestseller The Hunger Games, which is currently being turned into a summer blockbuster, was 33rd on the list.
JRR Tolkien's Lord of the Rings and the Twilight series of books were deemed too adult for the list.
What do you think is the greatest book for kids?
We are giving away 5 Tag Learn How to Read packs valued at $111.95 each. Simply email [email protected], tell us your favourite book you like to read with your child and why in 25 words or less.