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1
- Benson Henderson
- "Smooth"
- 30-12-0
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"Smooth" surprised many by taking the title from the painfully durable Frankie Edgar, who was thought to hold the title for longer based on his past showings. "Bendo", who entered the fight with a considerable size advantage over Edgar, did enough to take at least three rounds, once rocking Edgar in the second and putting forth a noticeably more measured effort than usual. Even though the high-speed style has lead Henderson to beat Donald Cerrone (twice), Jim Miller and Clay Guida, among others, he demonstrated his ability to avoid mistakes former Edgar victims made and must be just as efficiently effective against Edgar next time, as "The Answer" tends to come back stronger in title rematches.
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2
- Frankie Edgar
- "The Answer"
- 24-11-1
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Even though Edgar lost his belt to Henderson, one shouldn't count on him fading away any time soon, namely because he has a rematch coming up. Although his record is decision-heavy, Edgar does a very good job of controlling and outpacing opposing lightweights who tend to be larger, five of whom were undefeated before they met him. In his sixth UFC title fight, Edgar should look to better utilize his superb pace and should avoid having his superb chin tested more than it has to be. He's done it before against B.J. Penn and Gray Maynard and can do it again, though it won't be easy.
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3
- Nate Diaz
- 21-13-0
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Nate appears to be coming into his own lately, but there should be no surprise here since 1) he's a Diaz brother; 2) he's faced quality competition for over five years; and 3) his only loss by finish came at the hands of the much more experienced Hermes Franca via armbar in 2006. Highlights include submitting Gray Maynard in their first bout and outstriking him in every round in their second, embarrassing Takanori Gomi and Donald Cerrone on the feet, and most recently submitting Jim Miller (making Diaz the first to finish him), all in fights that contribute to his eighty-eight percent finish rate. If you don't count his 2 wrong-weight welterweight losses, his career looks even better. He is currently first in line to get a crack at the winner of Henderson-Edgar II for the title.
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4
- Gray Maynard
- "The Bully"
- 13-7-1, 1 NC
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Even though "The Bully" earned a split decision win over the tough and hyped-up Clay Guida, the performance wasn't at all what he expected. Maynard was forced to chase Guida for much of the fight, earning three rounds based on strikes and more if you count walking down an opponent as aggression. In the end, he proved that he comes to fight, even through five rounds of disappointment from an especially unpredictable Guida. And, from having one of the fastest knockouts in UFC history to decisioning nine of eleven defeated opponents, it's clear that Maynard can hurt and control (or at least do well through five rounds.) He is still one who is hungry and talented, and he may get another title shot soon if Edgar is not the champion.
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5
- Anthony Pettis
- "Showtime"
- 25-14-0
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Pettis's two losses, which came via decision to Bart Palaszewski and Clay Guida, didn't involve him getting hurt or dominated. His wins, however, involve harm to his opponents, eighty percent of whom were finished. With one decision win against the hardy Jeremy Stephens and another against current lightweight titleholder Henderson, Pettis makes a convincing case for a title shot, which he made even stronger once he knocked out Joe Lauzon via first round kick on the same night "Bendo" became champ. Quite a few fans are clamoring for a Diaz-Pettis showdown that would determine the undisputed first-place contender, and although this might not happen if Diaz continues to wait, Pettis's athleticism, slick ground game and kickboxing flair make him worthy.
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6
- Jim Miller
- "A-10"
- 37-18-0, 1 NC
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Around fifty percent of people counted on Nate Diaz beating Jim Miller, but few did so with the idea of Diaz taking the first round before submitting him in the second. Don't worry, though, because only the very best have beaten Miller, who has good striking, very good grappling, and an even better chin. Plus, he has yet to suffer back to back losses. Having defeated the often-underrated Bart Palaszewski, submitted the on-the-rise (and formerly undefeated) Charles Oliveira, and submitted the dangerously confident bomb-throwing Melvin Guillard, Miller is still near the top, and will hopefully recover well.
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7
- Gilbert Melendez
- "El Nino"
- 22-8-0
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Melendez, who has never been finished and who has avenged both of his decision losses, is a difficult figure to rank due to his ongoing noninclusion in the UFC. Many emphasize his potential and the UFC success of training partners Jake Shields and Nick Diaz, while others remain doubtful given his recent drought of convincing performances over respected but not particularly highly-ranked foes. Perhaps Josh Thomson is underrated (which he likely is) or perhaps he just has Melendez's number, but one can't doubt "El Nino's" endurance, competent striking and 8-2 record in Strikeforce title fights. Fans should find out soon, but his UFC debut can't come soon enough.
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8
- Donald Cerrone
- "Cowboy"
- 36-17-0, 2 NC
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"Cowboy" looked to have a rare 5-0 run in 2011 but was surprised by a punch-happy Nate Diaz. Nevertheless, Cerrone went 4-1 against game opposition and started 2012 with a decision over Jeremy Stephens. And, Cerrone, who has competent kickboxing ability along with submission capabilities, can continue to win if he focuses on what he does best and fights with his strengths. That shouldn't be too hard, after all, seeing that "Cowboy" is close to the peak of the division (and his career) and has only lost to standouts.
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9
- Clay Guida
- "The Carpenter"
- 38-24-0
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"The Carpenter" always comes ready to fight, or at least that's what most thought until he ended his fight with Maynard after five odd rounds. Likely hoping to build on what training partner Carlos Condit did to earn his belt, Guida and his trainers focused on dodging Maynard's shots while jogging and sticking in and out; the only problem is, the plan didn't work as well and Guida was outstruck. He will stay close to title talks, as he went five rounds with "The Bully" and took two rounds from him (according to strikes, not aggression) and will likely learn from his mistakes to keep his spot among other contenders. Either way, he still has energy and is still growing as a fighter.
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10
- Michael Chandler
- "Iron"
- 23-8-0
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Chandler arrived when he locked in a choke on highly rated Bellator champion Eddie Alvarez to steal the title after three grueling back-and-forth rounds. Once he punished Alvarez in what most would call a 10-8 round, he engaged in a close second and recovered from a painful third to submit the champ in the fourth, during which it looked like he was tiring more than the fresher Alvarez. After such an exciting battle, Chandler followed up with a TKO victory over veteran Akihiro Gono, which was expected. All this comes after wins over Lloyd Woodard and Patricio Freire, who are both handfuls. To stay in the ranking picture, which is filling up at lightweight, Chandler will have to keep up the hard work, which should soon include taking on Bellator Season 6 Lightweight Tournament winner Rick Hawn, who is powerful on the feet and has lost once, by split decision.