The England quartet are joined on the list by Paris St-Germain’s Kylian Mbappe, who was named number one with a value of £230.5m.
The list has been compiled by the CIES Football Observatory and focuses on players in Europe’s top five leagues.
Juventus star Cristiano Ronaldo, 35, is 70th in the list.
In February, CIES – a Switzerland-based research group that specialises in football statistical analysis – said Liverpool had the most valuable squad in Europe at £1.27bn, ahead of Manchester City in second place at £1.24bn.
Sterling, 25, has developed into one of Manchester City and England’s leading players while in third place, 20-year-old Sancho has shone for Borussia Dortmund in the Bundesliga.
Liverpool’s Alexander-Arnold, 21, was praised by Brazil legend Cafu this week while Manchester United’s Rashford scored 14 goals in 22 Premier League games this season.
CIES uses a number of variables to work out player values, including age, performance and economic factors.
Europe’s 25 most valuable players
Player Club Estimated value
1 Kylian Mbappe Paris St-Germain £230.5m
2 Raheem Sterling Manchester City £173m
3 Jadon Sancho Borussia Dortmund £159m
4 Trent Alexander-Arnold Liverpool £152m
5 Marcus Rashford Manchester United £136m
6 Mohamed Salah Liverpool £129m
7 Sadio Mane Liverpool £124m
8 Antoine Griezmann Barcelona £121m
9 Alphonso Davies Bayern Munich £119m
10 Harry Kane Tottenham £106m
11 Roberto Firmino Liverpool £106m
12 Bernardo Silva Manchester City £102m
13 Gabriel Jesus Manchester City £101m
14 Joao Felix Atletico Madrid £96m
15 Erling Haaland Borussia Dortmund £96m
16 Serge Gnabry Bayern Munich £95m
17 Bruno Fernandes Manchester United £93m
18 Matthijs de Ligt Juventus £93m
19 Mason Mount Chelsea £91m
20 Frenkie de Jong Barcelona £91m
21 Rodri Manchester City £90m
22 Lionel Messi Barcelona £89m
23 Lautaro Martinez Inter Milan £88m
24 Virgil van Dijk Liverpool £88m
25 Saul Niguez Atletico Madrid £87m