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The Socceroos climbed 11 places after reaching the Round of 16 in Qatar and sit 27th as a result - their highest ranking since 2012.
Morocco were the only other nation to improve 11 places, having risen to 11th following an incredible campaign that included victories over Belgium, Canada, Spain and Portugal.
Croatia, who moved five spots up to seventh, and Cameroon, who climbed 10 places to 33rd, are the other biggest movers of the bunch, while Saudi Arabia (49th) and Burkina Faso (50th) entered the top 50.
Canada, meanwhile, suffered the biggest drop, moving 12 places down to 53rd, and Denmark dropped eight places down to 18th.
Germany (14th), Mexico (15th) and Uruguay (16th) were all leapfrogged by Switzerland (12th) and the USA (13th), with Spain rounding out the top 10 behind Portugal (9th) and Italy (8th).
Argentina’s unforgettable triumph over France in the World Cup final was not enough to overtake Brazil at the top of the rankings, though it did close the gap on their South American rivals to just 2.39 points.
La Albiceleste would have assumed top spot had they defeated France without the need for penalties, according to FIFA, but that will matter little to Lionel Scaloni’s side.
France entered the top three for their efforts, with Belgium now in fourth after failing to advance beyond the group stage. Behind them are both England (5th) and the Netherlands (6th).
