Ricky Ponting's men have stretched their lead to 21 points over England and their 135 points is the highest rating since a modified format was introduced in 2003, the ICC said in a statement on Monday.
Third-placed Pakistan can draw level or overtake England if they beat hosts South Africa 2-0 or sweep the three-Test series starting in Centurion on Thursday.
South Africa remain sixth despite last week's 2-1 home series victory over fourth-placed India. However, victory over Pakistan by two Tests would lift them past fifth-placed Sri Lanka.
Australia's Shane Warne, who retired after the Ashes, has also signed off in style by finding a place in the elite all-rounders' list.
The greatest spinner in the game's history, who ended with a world record 708 Test victims, is ranked fifth behind only South Africa's Jacques Kallis and Shaun Pollock, Andrew Flintoff of England and Kiwi spinner Daniel Vettori.
Warne, who top-scored with 71 in the fifth and final Test in Sydney, also holds the unique record of scoring the most Test runs without recording a century. He had 3,154 runs from 145 matches.
