queen is best but if you do not have a king you lose
The King is most valuable because losing the King means you lose the game. If we ignore that fact, then the Queen is the chess piece with the most value.
When counting material:
pawn = 1 point
Knight = 3 points
Bishop = 3 points
Rook = 5 points
Queen = 9 points
This is a good guideline to estimate which exchanges are beneficial to you, but every chess position has their own unique factors and context which must be considered too. Material is just one of these factors to consider.
queen is best but if you do not have a king you lose