Pakistan have 120 points, 10 fewer than Australia and seven more than England, their hosts in a four-Test series starting at Lord's on Thursday.
England, who beat Australia last year to win the Ashes for the first time since 1987, slipped down following defeat in Pakistan and drawn series in India and at home to Sri Lanka.
Australia captain Ricky Ponting tops the individual Test batting ratings, ahead of India's Rahul Dravid and South African Jacques Kallis.
Sri Lanka off-spinner Muttiah Muralitharan heads the bowling list from South Africa fast bowler Makhaya Ntini and Australia leg spinner Shane Warne.
Australia, world champions in 1999 and 2003, have a huge lead in the one-day rankings, with South Africa in second place and Pakistan third.
Australia wicketkeeper Adam Gilchrist and South Africa seamer Shaun Pollock lead the individual limited-overs ratings.
