In this paper the Academic Ranking of World Universities is considered. The publication of the Institute of Higher Education, Shanghai Jiao Tong University, Academic Ranking of World Universities 2017, ARWU 2017 is analyzed. From 2017, those universities ranked between 501 and 800 are also published as ARWU World Top 500 Candidates. The ARWU 2017 ranking of the University of Belgrade is illustrated. The ARWU uses six objective indicators to rank world universities.