Roy Hodgson's side have been displaced from third place after a tricky 1-1 draw with Oleg Blokhin's side at Wembley, while other home nations sides have also fallenEngland have slipped to fifth in the latest Fifa rankings after drawing 1-1 at home to Ukraine in their World Cup 2014 qualifier on September 10.
Roy Hodgson's side were in third position in the global rankings going in to the tie with Oleg Blokhin's team but were usurped on Wednesday morning by Portugal and Argentina, who now occupy third and fourth positions, respectively.
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Germany have held on to second place, while Netherlands are up to sixth, displacing Uruguay in the process.
Elsewhere, the Republic of Ireland are 28th, while Scotland have fallen nine places to 56th. Chris Coleman's poor start as Wales manager has seen his side slide 12 places to 57th. However, Northern Ireland have climbed 12 spots to 117th despite a disappointing 1-1 draw with Luxembourg.
Euro 2004 champions Greece have made the top 10, climbing above Croatia in doing so, while Columbia have flown up to ninth place, climbing 13 positions in the process, and Brazil sit in 14th place.