Having won the Asian Cup for the first time earlier this month, Félix Sánchez's side are up to 55th, five places behind World Cup quarter-finalists Russia.
Qatar are the biggest movers in FIFA's first rankings update of 2019, ascending 38 places to 55th after their Asian Cup success.
Félix Sánchez's men went into this year's edition having never got past the quarter-finals, reaching the last eight in 1988 and 2011, both times as hosts.
But in the United Arab Emirates, Qatar went all the way despite not being considered among the favourites.
They won all seven of their matches, scoring 19 goals and conceding just one, in the 3-1 final triumph over Japan.
As a result of their success, Qatar become the fifth highest-ranked nation in the AFC behind Iran, Japan, South Korea and Australia.
Beaten finalists Japan have also enjoyed a significant rise, climbing 23 places to 27th.
By contrast, North Korea – who finished bottom of Qatar's Asian Cup group without any points – endured the biggest slide, dropping 12 spots to 121st.
The top 20 remains unchanged, with Belgium, France and Brazil keeping their respective places in first, second and third.