The Zero-Shot Object Navigation (ZSON) task requires embodied agents to find a previously unseen object by navigating in unfamiliar environments. Such a goal-oriented exploration heavily relies on the ability to perceive, understand, and reason based on the spatial information of the environment. However, current LLM-based approaches convert visual observations to language descriptions and reason in the linguistic space, leading to the loss of spatial information. In this paper, we introduce TopV-Nav, an MLLM-based method that directly reasons on the top-view map with sufficient spatial information. To fully unlock the MLLM's spatial reasoning potential in top-view perspective, we propose the Adaptive Visual Prompt Generation (AVPG) method to adaptively construct semantically-rich top-view map. It enables the agent to directly utilize spatial information contained in the top-view map to conduct thorough reasoning. Besides, we design a Dynamic Map Scaling (DMS) mechanism to dynamically zoom top-view map at preferred scales, enhancing local fine-grained reasoning. Additionally, we devise a Potential Target Driven (PTD) mechanism to predict and to utilize target locations, facilitating global and human-like exploration. Experiments on MP3D and HM3D datasets demonstrate the superiority of our TopV-Nav.