My canon. In (approximate) order of favorite films, not necessarily of best action sequences.

Trying to keep a relatively open definition of "action" here.

I have a feeling some of those could rank high, but I haven't seen any of them: Blue Steel; Year of the Dragon; Eight Diagram Pole Fighter; Dragon Inn; A Better Tomorrow (and other Woo); Anything from Tsui Hark (The Blade, Once Upon a Time in China); Outland (or other Hyams); The Sword of Doom; The 36th Chamber of Shaolin; The Driver; a bunch of other Walter Hill movies like Southern Comfort, Extreme Prejudice, Streets of Fire; Charley Varrick; Basic and more McTiernan; Riki-Oh: The Story of Ricky; Motorway; Last Man Standing; Drunken Master/The Legend of Drunken Master; Wheels on Meals; To Live and Die in L.A.; A bunch of films from To (not going to name them); Tango & Cash; Demolition Man; Hard Target; Last Action Hero; Crippled Avengers; Commando; Rocky IV and III