Ricky Ponting's side was judged the best side in the world following the International Cricket Council's (ICC) annual update, narrowly ahead of South Africa, with New Zealand third.
The Australians lost their No.1 place earlier this year, but regained it through victory over the West Indies in the first of the one-dayers played in the Caribbean last month.
The ICC's updated table, based on games played over the past two years, has Australia (130) holding a two-point lead over the Proteas (128), with the Black Caps on 116.
India (112) are in fourth spot, followed by Pakistan (110), England (106), Sri Lanka (106), the West Indies (95), Bangladesh (46), Ireland (18), Zimbabwe (16) and Kenya (0).
Australia's next assignment is a three-match series against Bangladesh in Darwin, later this month.
Meanwhile, Indian cricket officials are yet to confirm the seventh and eighth teams to be taking part in the inaugural Champions League Twenty20 tournament.
The competition pits the best domestic sides in the world playing for $US6 million ($A6.38 million) in prizemoney, in India from next month.
The Indian board has invited England's best side Middlesex and Sialkot from Pakistan to take part, but spokesmen in both India and Australia today said the two sides had yet to commit.
Middlesex's involvement is likely to depend on whether the England and Indian boards can resolve a dispute over player eligibility.
If Middlesex do not take part, the eighth spot is likely to go to a side from New Zealand.
Victoria, Western Australia, the Rajasthan Royals and the Chennai Super Kings, and the Dolphins and Titans from South Africa are the six confirmed starters so far.
