Strong recent form in its World Cup qualification group has propelled the national team ahead of Japan to be the leading nation from the Asia confederation.
Australia's 1-0 victory over Iraq in Brisbane last weekend moved them up eight places to No.35 on world governing body FIFA's rankings, with former top ranked Japan dropping one place to No.38.
The Socceroos are currently top of their Asian World Cup qualifying group, and are unbeaten in their past six matches - most against opponents ranked above or around them.