The Seleccao have leapfrogged Colombia, while Switzerland and Brazil have enjoyed boosts inside the top 10
Vicente del Bosque's men lead the way ahead of Germany and Argentina in an unchanged top three, but Iberian neighbours Portugal - whom Cristiano Ronaldo fired to the World Cup this summer late last year - have leapfrogged Colombia into fourth.
Switzerland are up two places to sixth despite not playing a game since November, while Confederation Cup holders Brazil have risen to ninth, overtaking Netherlands.
Denmark are among the biggest movers, jumping from 25th to 20th, and France are up two spots to joint 18th with Ukraine, whom Didier Deschamps' side beat in a play-off in November to qualify for the World Cup.
World Cup debutants Bosnia & Herzegovina also rise two places to 17th, with United States and Chile up one spot each to 13th and 14th at the expense of England, who fall to 15th.
Cote d'Ivoire have dropped out of the top 20 after a six-place fall, but African rivals Cape Verde are up eight places to 27.
Mali are one of the list's biggest losers, dropping 19 places to 59th, while Ghana - who will look to replicate their run to the 2010 World Cup quarter-finals in Brazil later this year - have plummeted 13 spots to number 37.
Elsewhere, Armenia have moved inside the top 30, their highest ever Fifa ranking, after a World Cup qualification campaign that saw them narrowly miss out on a play-off spot.