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Australia dethroned India from the top position of the Reliance ICC ODI Team Rankings after its 4-1 victory over South Africa in the five-match series which concluded in Sydney.
Four-time world champion Australia had started the series in third position on 114 ratings points and has now finished on equal points with India on 117 ratings points.
However, when the ratings are calculated beyond the decimal point, Australia is 0.2 clear of India and five ratings points clear of South Africa, which has dropped one place to third.
South Africa had moved ahead of Australia last month, following its 2-0 victory over New Zealand.
Australia has enjoyed a total of 498 weeks at the top pedestal since the current rankings system was introduced in October 2002.
World champions India though will have a chance to come back to the top spot in the triangular series, also featuring Australia and England starting in Melbourne on January 16.
With just one ranking point separating them, fourth placed Sri Lanka hosts fifth placed England in a seven-ODI series which starts in Colombo on Wednesday.
The ODI list
1 Australia 117
2 India 117
3 South Africa 112
4 Sri Lanka 108
5 England 107
6 Pakistan 98
7 New Zealand 96
8 West Indies 96
9 Bangladesh 71
10 Zimbabwe 56
11 Afghanistan 42
12 Ireland 33
Image: Australian players celebrate after a fall of a wicket
Photograph: Mark Kolbe/Getty Images