Dravid, who had a highly successful three-Test series against Pakistan, has 133 points followed by Australian wicketkeeper Adam Gilchrist (130) and Indian opener Virender Sehwag (128).
Among the bowlers, McGrath, who now has 499 Test wickets, reclaimed the top spot from leg-spinner Anil Kumble. McGrath now has a big lead with 195 points against the Indian's tally of 162.
World record holder Shane Warne (160) occupied the third spot, a press release said.
In the team ranking, Australia continued their stay at the top amassing 90 points followed by England (73) and India (68).
The world champions also reigned supreme in the One-day ratings with 77 points ahead of Sri Lanka (69) and New Zealand (63).
India, who will take on Pakistan in a six-match series starting on Saturday, were placed a lowly eighth with 39 points ahead of only Bangladesh and Zimbabwe. Pakistan, meanwhile were placed fourth.