Alejandro Sabella's side, which secured a place at next year's World Cup with a 5-2 victory over Paraguay Tuesday, overtook Germany and Colombia. Uruguay were the biggest top-10 movers, jumping five places to seventh after victories over Peru and Colombia last week, reports Xinhua.
Belgium were also rewarded for their impressive form in the European World Cup qualifiers where they lead Group A, by rising four places to sixth.
Five-time World Champions Brazil, fresh from beating Australia 6-0 and Portugal 3-1 in the past five days, moved up one spot to eighth.
Spain tops the rankings ahead of Argentina, Germany, Italy and Colombia.
The top-10 list:
1. Spain (1514 points)
2. Argentina (1263)
3. Germany (1261)
4. Italy (1199)
5. Colombia (1180)
6. Belgium (1159)
7. Uruguay (1126)
8. Brazil (1067)
9. Netherlands (1058)
10. Croatia (1051)
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