Mano Menezes’ side only managed one win in the tournament, but still managed to rise from fifth, overtaking England in the process.
Copa America winners Uruguay have moved up 13 places to fifth, their highest placing since the rankings began in 1992.
Other big movers thanks to their performances in Argentina over the last month are Chile (27th to 11th), Peru (49th to 25th), Colombia (54th to 35th) and Venezuela (69th to 40th).
The only side to leave the top ten since last month are Mexico, who lost all three games at the Copa America and have dropped from ninth to 20th.
The top three sides of Spain, the Netherlands and Germany remain unchanged, as they have done since the 2010 World Cup.
The FIFA World Rankings Top 10
(Last month’s position in brackets)
1. (1) Spain
2. (2) Netherlands
3. (3) Germany
4. (5) Brazil
5. (13) Uruguay
6. (4) England
7. (7) Portugal
8. (6) Italy
9. (8) Croatia
10. (10) Argentina
