From 1995, the award was opened up to all players around the world, after the likes of Pele and Diego Maradona missed out due to being ineligible in their prime, and has grown in significance ever since.
Out of all the players who were eligible though, there are some whose greatness certainly demanded more recognition from those journalists, players and coaches who vote for the award every year, but never did so.
Here, Sports Mole looks at some of the finest players who have never won the Ballon d'Or.
Ferenc Puskas
Had the award been around a few years earlier, then there is no doubt that Ferenc Puskas would have been a recipient, as the Hungarian legend, part of the trailblazing 'Golden Team' of the 1950s, remains one of the greatest strikers ever to play the game.
One of the biggest shocks in footballing history was Hungary's failure to win the 1954 World Cup, just before that iconic team was split up due to the revolution that took place in the country a couple of years later.
That is what saw Puskas move to Real Madrid in 1958, going on to score 242 goals in 262 matches, winning five La Liga titles and three European Cups, despite playing up until his late 30s, but his performances were only enough to grant him second place in 1960.
Thierry Henry
Often referred to as the greatest striker in Premier League history, Thierry Henry spent less time in the English top flight than many of his peers, but can more than match them for strike rate, before moving to Barcelona and winning the Champions League in the latter part of his career.
A member of the Arsenal side that went invincible in 2004, Henry also dragged the Gunners to their first ever Champions League final in 2006, and the legendary forward enjoyed unparalleled success at international level too, winning the World Cup and European Championship with France.
Zinedine Zidane got the acclaim ahead of Henry though, and despite being named FWA Player of the Year three times, and winning the European Golden Boot twice, the Arsenal great could only manage second place in 2003 and third in 2006 - with France missing out on the World Cup being fatal to his chances.
Andres Iniesta
For 14 years, Andres Iniesta was a staple of the classy Barcelona midfield that conquered Europe on numerous occasions, and the Spain side that dominated international football in the late-2000s and early-2010s.
In 2009 and 2011, Iniesta was crucial in one of the greatest club sides of all time claiming Champions League glory, while he was instrumental in Spain's major tournament success in 2008, 2010 and 2012, but playing in the era of Lionel Messi and Cristiano Ronaldo saw him denied individual success.
Barca teammate Messi often pipped him to the award, as Iniesta came second in 2010 thanks largely to his World Cup-winning goal, and he also came third in 2012 after Spain cruised to a second straight Euros crown.
Luis Suarez
Another player who suffered during the Messi-Ronaldo monopoly was Luis Suarez, who remarkably never made the top three in any year, but will go down as one of the most talented players of his generation.
Winning Golden Boots in Holland, England and Spain, Suarez almost dragged Liverpool to an unlikely title in 2014, before moving to Barcelona and winning the treble in his first full season as one-third of the greatest modern-day strike force in football.
With over 500 goals in roughly 800 club appearances, Suarez was also prolific at international level, lending a helping hand (literally) in Uruguay's run to the semi-final at the 2010 World Cup, before winning the Golden Ball in their Copa America success in 2011, going on to become the country's all-time record goalscorer.
Paolo Maldini
In an award often dominated by attackers, some love has to be shown to one of the greatest defenders of all time, and possibly the most loyal one-club man in the game, Paolo Maldini.
The AC Milan great came third in the 2003 vote after captaining the Rossoneri to the Champions League, and he led his club to the summit of European football again in 2007, having already won the competition three times during the 1980s and 1990s.
Never winning a major honour with Italy is what almost certainly denied him though, as he would go on to see his compatriot Fabio Cannavaro win it in 2006, but Maldini's retirement in 2002 handed the opportunity to Fabio Grosso to take his place at left-back and be the cult hero that guided the Azzurri to their fourth global crown that year.
Kylian Mbappe
The one player in this list who still has a huge opportunity to win it in the future is Kylian Mbappe, whose recent move to Real Madrid is often attributed to his desire to win this particular accolade, as well as the Champions League.
In previous eras, what Mbappe has done at international level would have certainly won him the award by now, as he was the Young Player of the Tournament at the 2018 World Cup, becoming the second teenager after Pele to score twice in a World Cup match, and to net in the final, on the way to France winning it for the second time.
Had it not been for the fairytale story of Messi winning the World Cup in 2022, Mbappe would have been in serious contention for the award again too, as his astonishing hat trick in the final was overshadowed by the Argentine great finally clinching the Holy Grail, but at 25, there is still plenty of time for the Frenchman to add his accolades.
(Honourable mentions: Paco Gento, Wayne Rooney, Xavi, Franco Baresi, Bobby Moore, Steven Gerrard, Neymar, Romario, Robert Lewandowski, Kevin De Bruyne, Frank Rijkaard, Toni Kroos, Alessandro Del Piero, Paul Breitner)