The Top 50 UK Employers List said the force was ranked second in the list of the country's leading companies and public bodies.
The table sees organisations ranked in terms of their performance in a range of areas concerning diversity and inclusion.
Paul Sesay, CEO and founder of Inclusive Companies, said: "This isn't simply about building a list, but recognising organisations who are brave, innovative, and see diversity and inclusion as a smart way to grow their business.
"We are thrilled to showcase West Midlands Police as one of the UK’s most inclusive employers."
It comes after Police and Crime Commissioner David Jamieson called on the force to take on 1,000 BAME recruits within the next year.
Mr Jamieson added: “This is a fantastic accomplishment for our force. We are now the second most inclusive employer in the UK.
"This is recognition that West Midlands Police is an excellent place to work and that our ongoing work on inclusivity is proving successful.
'Leaps and bounds'
"This work is especially visible in our recruitment process.
"We are coming on leaps and bounds in also becoming a more representative force that looks more like the communities it serves.
"We are still recruiting new police officers and this announcement is confirmation that there has been no better time to pursue a career with West Midlands Police."
Organisations featured in the top 50 have shown evidence of inclusion in areas such as recruitment, training and diversity-related initiatives.
The force said it had invested significantly in diversity and inclusion and launched a strategy to encourage under-represented communities to take up roles with them.
Judges also noted the police's workshops on reasonable adjustments, mental health, wellbeing, stress management and their chaplaincy service – and a British Sign Language video translation service.
Nicola Price, the force's head of people and organisation development, said: "This is a great achievement for us and recognises the great work colleagues are doing to help drive an inclusive culture.
"We strive for all our colleagues to be their best self. This award shows that we are doing the right things and making progress."
University Hospitals of Morecombe Bay NHS Foundation Trust topped the list, while West Midlands Fire Service was placed sixth.