At the other end, John Travolta's infamous 2000 flop Battlefield Earth has earned the title of New Zealand's least-favourite film.
Flicks editor Steve Newall says there are few surprises in the Top 100.
The Lord of The Rings: The Fellowship of The Ring.
"While everyone has their own unique taste in films, it's easy to see that there's a strong consensus around films people would consider the greatest."
Dramas are the most prominent genre on the list with 32 entries, while the 90s is the best-represented decade.
The list is notably lacking in New Zealand films. Outside of two Lord of the Rings entries, Boy is the only local film to make the list, coming in a distant 87th.
Newall says the lack of representation goes back to the need for consensus.
"While people may have their own particular favourites from New Zealand that really speak to them, there's only really a few that people are united on."
Shawshank is joined in the top five by Star Wars Episode V, The Godfather, Pulp Fiction and Lord of the Rings: The Fellowship of the Ring. The top 10 collectively have 81 Oscar nominations. Eighteen Best Picture winners are scattered throughout the list.
Battlefield Earth is kept company by other notorious critical failures, including Sharknado, Twilight, Batman and Robin and The Room.
