Well, I can't remember my list last time, but I imagine this is going to be a bit different, since my feelings on certain games can be quite variable.
1. Shenmue (and Shenmue 2)
What can I say about Shenmue? There has never been anything like it, and probably never will be. I had to give alot of thought to what my NUMBER ONE game would be, and in the end it has to be this. Shenmue has an awesome story, and the gameplay is very innovative. If you haven't played it you really should. If you have, well, I think you can figure out why it is my favorite.
2. Guardian Heroes
This is a sort of side scrolling beat 'em up for the Sega Saturn, however there are a few twists. You can use the L and R buttons to hop back and forth between rows, which allows you to do more complex fighter-esque moves, since it frees up the up and down buttons. It also mixes in RPG elements with exp, level ups, and stats that effect how your charater plays, and magic. There are also like a billion different story paths, which adds replay value+++. Overall, the game is just really fun.
3. Landstalker
Many people have called this game a Zelda clone, but in my opinion it is much better than Zelda has ever been. For starters, the game uses an isometric perspective, allowing for complex platforming puzzles. The plot is solid, but nothing groudbreaking. You basically play a treasure hunter, seaching the island the game takes place on for a legendary stash of treasure. Landstalker is just a classic and great game. I ussually find myself replaying it at least once a year.
4. Der Langrisser
This is a japanese SRPG for the SNES that was never translated/released anywhere else. I first played Warsong, for the Sega Genesis, and then found my way to this game. In Der Langrisser you have your main characters who level up and change class and such like in most other SRPGs. However, these characters are sort of "commanders." Each of them can hire units(limited by the character, though the max number is 6) to fight along side them. These units get stat bonuses if they are within a certain range of their commander, and any exp they get goes straight to their commander. The storyline is interesting as well, in that there are several different main paths you can take, and several smaller branches from there. What path you take depends on some of your action during the game. There is lots of conversation during the battles as well, which keeps things interesting.
5. Shining Force 2
It was actually a bit of a toss up between this and Phantom Brave. In the end, I decided I prefer this SRPG classic. Shining Force 2 doesn't bring anything special or unique to the table, as far as SRPGs are concerned, but simple gameplay isn't always a bad thing. Few games have been able to instill such a sense of adventure in me. Perhaps it is the game's music, or traveling all over to different places, but the game really feels like an adventure to me. I've always loved this game, it is alot of fun.
Honorable mentions:
FFT
Well, Halo listed this one. I listed it last time, at number one I think. FFT is a great game, but I've played it so many times it just isn't that fun for me anymore.
Phantasy Star 4
I'm not very big on traditional style RPGs, however I really love the style and story of this game.
Legend of Mana
Another fantastic game. I wish I could have put all of these on my list. Legend of Mana is another great game for those who want some adventure. I also love how open ended it is.