Consumer Reports calls the Fit the "best overall in a new class of fuel-efficient cars."
Fuel economy, as measured in Consumer Reports' controlled tests, was 32 mpg with an automatic transmission and 34 mpg with a manual.
"Not only is it fun to drive, but its compact dimensions pack an impressive amount of interior room and versatility," the magazine said.
The Fit got top scores in "Reliability," "Crash protection" and "Satisfaction." Its road test score was good, but not the best.
This has become a crowded market segment with a number of good entries, said David Champion, head of auto testing for Consumer Reports.
"The Nissan Versa we thought was very good," he said. "The Kia Rio and Hyundai Accent were very good."