U.S. News & World Report (USNWR, U.S. NEWS) is an American media company publishing news, consumer advice, rankings, and analysis. The company was launched in 1948 as the merger of domestic-focused weekly newspaper U.S. News and international-focused weekly magazine World Report. In 1995, the company launched its website, usnews.com, and, in 2010, ceased printing its weekly news magazine, publishing only its ranking editions in print. U.S. News licences its name to the subjects it ranks, so they may then use the annual rankings in promotional literature.

After the closure of United States Daily, which was published between 1926 and 1933, David Lawrence (1888–1973) founded the newspaper United States News in 1933, which was converted to magazine format in 1940.

In 1946, Lawrence founded the magazine World Report. The two magazines covered national and international news separately. In 1948, Lawrence merged them into U.S. News & World Report. He then sold the magazine to his employees. The magazine initially tended to be slightly more conservative than its two primary competitors, Time and Newsweek, focusing more on economic, health, and education stories. It also eschewed sports, entertainment, and celebrity news.

Important milestones in the early history of the magazine include the introduction of the "Washington Whispers" column in 1934, and the "News You Can Use" column in 1952. In 1958, the weekly magazine's circulation passed one million reaching two million by 1973.

Since 1983, U.S. News & World Report has been known primarily for its influential ranking and annual reports of colleges and graduate schools, spanning across most fields and subjects. U.S. News & World Report is America's oldest and best-known ranker of academic institutions, and covers the fields of business, law, medicine, engineering, education, social sciences and public affairs, in addition to many other areas. Its print edition consistently has been included in national bestseller lists, augmented by online subscriptions. Additional rankings published by U.S. News & World Report include hospitals, medical specialties, and automobiles.

In October 1984, New York City-based publisher and real estate developer Mortimer Zuckerman purchased U.S. News & World Report. Zuckerman had owned the New York Daily News. In 1993, U.S. News & World Report entered the digital world by providing content to CompuServe and in 1995 the website usnews.com was launched.

In 2001, the website won a National Magazine Award for General Excellence Online. In 2007, U.S. News & World Report published its first list of the nation's best high schools. Its ranking methodology included state test scores and documented the success of poor and minority students on the exams, and schools' performance in Advanced Placement exams.

Beginning in June 2008, the magazine reduced its publication frequency in three steps. In June 2008, citing an overall decline in magazine circulation and advertising, U.S. News & World Report announced that it would become a biweekly publication, starting in January 2009. It hoped advertisers would be attracted to the schedule, which allowed ads to stay on newsstands a week longer. However, five months later the magazine changed its frequency again, becoming monthly.