Bieber, 18, "remains more powerful in the pop universe than ever", Billboard said, having released two No. 1 albums in the last year - holiday set Under the Mistletoe and his latest pop album, Believe.
"Bieber is the supernova of teen pop stars with charisma, popularity and swagger to spare ... it's Biebs' world, and we're lucky to live in it," the music publication said.
One Direction, whose five members range in age from 18 to 20, burst onto the US pop scene just six months ago after first soaring to success in their native Britain. Managed by British TV entrepreneur Simon Cowell, One Direction made history in March when it became the first UK group to debut at the top of the Billboard 200 chart with its first album.
Singer Demi Lovato, 20, came in third on the list. The former Disney Channel star joined the judging panel on TV singing competition X Factor this year.
Rounding out the top five were country singer and American Idol winner Scotty McCreery, 18, and rapper Mac Miller, 20.
Below is Billboard's full "21 Under 21" list:
1. Justin Bieber
2. One Direction
3. Demi Lovato
4. Scotty McCreery
5. Mac Miller
6. Selena Gomez
7. Porter Robinson
8. Cher Lloyd
9. Earl Sweatshirt
10. Nick Jonas
11. Jackie Evancho
12. Cody Simpson
13. Mindless Behavior
14. Megan & Liz
15. IU
16. Bridgit Mendler
17. 3BallMTY
18. Miley Cyrus
19. Madeon
20. Ross Lynch
21. Victoria Justice
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I love one direction they should of won. :'( :-(