(May 2016)
I only included the games that I've personally played, which is why highly-rated games like Shining Force II and Phantasy Star 4 aren't on the list.
1. Alien Soldier
2. Sonic 3 & Knuckles
3. Streets of Rage 2
4. Revenge of Shinobi
5. Shining Force
6. Contra Hard Corps (EU: Probotector)
7. Gain Ground
8. Vectorman
9. Ristar
10. Dr Robotnik's Mean Bean Machine
11. Fire Shark
12. Battletoads
13. Desert Strike
14. Gunstar Heroes
15. Sonic
16. Shinobi III
17. Comix Zone
18. NHL 96
19. Streets of Rage
20. Sonic 2
21. Golden Axe II
22. Super Fantasy Zone
23. Columns
24. Kid Chameleon
25. Thunder Force 4
26. Jungle Strike
27. Fatal Labyrinth
28. Puggsy
29. Jennifer Capriati Tennis (EU: Grandslam)
30. Shining in the Darkness
31. Bonanza Bros
32. Mortal Kombat III
33. Outrun
34. Crue Ball
35. Columns III
36. Lawnmower Man
37. Sonic Spinball
38. The Lion King
39. High Seas Havoc (EU: Havoc)
40. Mortal Kombat II
41. Mortal Kombat
42. Golden Axe
43. Flicky
44. Phantasy Star II
45. Dragonball Z Buyu Retsuden
46. Urban Strike
47. Altered Beast
48. Zero Wing
49. Ren & Stimpy: Stimpy's Invention
50. Captain Planet