Why wait for the holidays to get into the festive spirit? Celebrate Christmas in July and channel the most wonderful time of year by listening to some of your favorite jingling tunes or gathering with loved ones to watch your favorite holiday movie.

The holly jolly season provides us with an endless amount of entertaining films to watch, treasured films that have stood the test of time, nostalgic comedies providing a much-needed laugh amid the stress of holiday shopping and even newer entries that are sure to become timeless classics.

But which film stands out among all the holiday favorites?

According to a list from Entertainment Weekly, It's A Wonderful Life was named the "best Christmas movie of all time." This 1946 film directed by Frank Capra and starring Jimmy Stewart was described as a masterpiece that emphasizes the true meaning of the holidays.

Here's what EW had to say about this beloved Christmas movie:

"If you think Frank Capra's holiday staple is feel-good hooey, watch it again. It's funny, heartwarming, profound, and an annual reminder that the holidays are about more than presents, thanks to Jimmy Stewart's turn as George Bailey. If you don't have a sugarplum in your throat by the end credits, you need to come in from the cold."

A Christmas Story (1983), A Charlie Brown Christmas (1965), Elf (2003) and How the Grinch Stole Christmas (1966) round out the top five, but the list features other popular films like Love Actually, Home Alone, Die Hard and more.

Check out Entertainment Weekly's full list to see if your favorite holiday film made the cut.