Pat Cummins' men have leapfrogged India and New Zealand to reclaim the No.1 ranking for the first time since May 2020.
Australia rocketed up to 119 points, ahead of the Black Caps (117) and India (116).
The dominant retaining of the urn coincided with New Zealand and India suffering unexpected recent results.
Bangladesh stunned hosts New Zealand in the opening Test of their two-match series, before the Black Caps comprehensively rebounded to win the next game.
India, who were ranked No.1, lost 2-1 in South Africa after the hosts won the last two matches of their three-Test series.
Australia had an opportunity to be top-ranked in January 2021 but an under-strength India took down Justin Langer's men with a memorable 2-1 triumph.
After the tumultuous lead-up to their Test summer, in which Tim Paine resigned as captain, Australia have enjoyed a near-flawless summer since Mitchell Starc took a wicket with the opening ball of the Ashes series.
Australia now have three of the world's top-six best men's Test batters after Travis Head's Hobart century moved him up the rankings.
Head was the big mover in the rankings, improving from 10th to equal-fifth after his man-of-the-match effort in the Ashes finale.
Marnus Labuschagne tops the batting chart with Steve Smith fourth.
Australia are due to tour Pakistan in March, their first overseas Test tour since the 2019 Ashes in England.
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