With 762 points, Dhoni is 16 points behind second-placed English swashbuckler Kevin Pietersen and a massive 86 points behind reigning number one Michael Hussey of Australia.
The other Indian batsmen in the top-20 include, captain Rahul Dravid at 12th, master blaster Sachin Tendulkar at 18th and Yuvraj Singh on the 20th position.
Meanwhile, South Africa can take themselves closest that any side has come to Australia, since the table started in October 2002, if they succeed in the five-match series against Pakistan that starts at Centurion today.
If the Proteas clean-sweep the series it would lift them to 131, just two rating points behind the current mark of Ricky Ponting's line-up.
Australia can improve its own rating over the next week or so as its tri-series against England and New Zealand comes to a conclusion but, at the same time, it can also lose rating points if it suffers another defeat to go with Friday's reverse against England in Sydney.
The contrast between the recent ODI form of the Proteas and Pakistan is marked.
Pakistan may be third in the table, 14 points behind South Africa, but it has secured only eight wins from its last 15 games, although that does include a 3-1 success against the West Indies late last year, just before this tour.
South Africa has nine batsmen among the top 50 places, as well as three players in the bowling top 20, including Shaun Pollock, who tops that list.
The home side's top-ranked batsman is skipper Graeme Smith, in 13th place, while Herschelle Gibbs, who will be available for selection after missing the opening match through suspension, is in 16th, and Jacques Kallis is in 23rd spot.
Pollock leads the bowling table ahead of Glenn McGrath of Australia, New Zealand's Daniel Vettori and McGrath's team mate Brett Lee, while Pollock's colleague Makhaya Ntini is in fifth position.
South Africa's other bowler among the top 20 places is Andre Nel, with the big fast bowler currently occupying 15th place in the list.
Pollock also leads the Rankings for ODI all-rounders ahead of Chris Gayle from the West Indies.
Top-10 Teams: 1.Australia, 2.South Africa, 3.Pakistan, 4.New Zealand, 5.Sri Lanka, 6.India, 7.West Indies, 8.England, 9.Bangladesh, 10.Zimbabwe
Batsmen: 1.Mike Hussey (AUS), 2.Kevin Pietersen (ENG), 3.M S Dhoni (IND), 4.Andrew Symonds (AUS), 4.Ricky Ponting (AUS), 6.Kumar Sangakkara (SL), 7.Adam Gilchrist (AUS), 8.Chris Gayle (WI), 9.Sanath Jayasuriya (SL), 10.Michael Clarke (AUS)
Bowlers: 1.Shaun Pollock (SA), 2.Glenn McGrath (AUS), 3.Daniel Vettori (NZ), 4.Brett Lee (AUS), 5.Makhaya Ntini (SA), 6.Chaminda Vaas (SL), 7.Nathan Bracken (AUS), 8.Muttiah Muralitharan (SL), 9.Ian Bradshaw (WI), 10.Shane Bond (NZ)