Formal:
* Elle est la meilleure. (This is the most literal translation and is very formal)
* Elle est la plus douée. (This means "She is the most gifted" and is also quite formal)
Informal:
* C'est la meilleure ! (This is a more colloquial and enthusiastic way to say it)
* Elle est top ! (This is a very informal and modern way to say it)
* Elle déchire ! (This is very informal and means "She rocks!")
More specific:
* Elle est la meilleure dans son domaine. (She is the best in her field)
* Elle est la meilleure chanteuse. (She is the best singer)
You can also use adjectives to describe what makes her the best, like:
* Elle est la plus intelligente. (She is the most intelligent)
* Elle est la plus belle. (She is the most beautiful)
It's important to choose the phrase that best fits the situation and your intended meaning.