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Melkor. Only this guy had the balls to defy God and his Angels, twist like half them to evil, mar the very world itself with an inherent evil, knock over the Lamps, mutilate God's children, fool the Angels in to believing he was redeemed, destroy the Trees, steal their progeny, provoke the Kinslaying, start a war that sunk a continent, and still have his effects felt millennia after being kicked out of Ea.
Sauron's and these other guys' got nothin' on him.
Maybe Gimli.
I will say that Melkor was originally very badass. But once he began to dilute his power by creating the orcs, dragons, and other nasties he began to drop in the bad ass factor. Eventually he was a coward who sat on his throne, that plus the fact that he was defeated by Ungoliant and was put to sleep by Lúthien drops him.