Mr Pita, whose party won the most seats in the May 14 general election but was unable to form a government, was the only Thai on the annual list of 100 people seen as defining the next generation of leadership around the world.
The list is divided into five categories: Artists, Phenoms, Innovators, Advocates and Leaders, reports the Bangkok Post.
“The only thing more stunning than Pita Limjaroenrat’s election victory was the radical agenda he ran on to achieve it,” Time said.
However, it noted that “the byzantine nature of Thai democracy means Pita’s path to power has been blocked by an unelected Senate and a flurry of legal challenges”.
Move Forward is now sitting in opposition but its 43-year-old leader remains optimistic about the future, the magazine said.
“I’m proud of what we have achieved,” it quoted him as saying. “And we can do a lot more to provide checks and balances in parliament and speak on the behalf of the people.”