Jolie topped the Forbes.com list thanks to the worldwide success of her action film Salt, which brought in $300 million, and The Tourist, which also featured Johnny Depp and earned $280 million in global sales.
Much of Parker's hefty salary comes from reruns of her hit television show Sex and the City, which she starred in and produced, and earnings from the second film from the series which generated $290 million.
"People may be surprised to see Sarah Jessica Parker up there but they may not realise that in addition to acting, she earns big from her perfumes and endorsement deals," said writer Dorothy Pomerantz of Forbes.com. "Also, she's coming off of Sex and the City 2 which turned a healthy profit."
Jennifer Aniston and Reese Witherspoon were not far behind in the rankings with each actress bringing home $28 million.
Aniston's film Just Go With It is her fourth highest earning film.
The top 10 earning actresses made a total of $218 million between May 2010 and May 2011, according to Forbes.com, which compiled the list by talking to producers, lawyers, agents and Hollywood insiders to estimate what each actress earned.