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Ashwin’s highest rating was 904, achieved in December 2016.
The 907 ranking points also placed Bumrah as joint-17th in the all-time list with Derek Underwood of England.
Ahead of the Boxing Day Test in Melbourne last week, Bumrah had equalled the record (904) held by Ashwin in the ranking for bowlers.
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Australia skipper Pat Cummins earned 15 rating points following his six wickets at MCG to jump a place to No. 3.
He also secured a third place in the Test all-rounder rankings after he notched up 90 vital runs across two innings during Australia’s 184-run win in the fourth Test.
Opener Yashasvi Jaiswal’s 82-run first-innings knock in the Boxing Day Test saw him jump a spot to a career-best fourth with 854 rating points, while Nitish Kumar Reddy’s maiden Test century leapfrogged him 20 places to 53rd in the Test batting rankings.