A string of good scores in the recent past saw Dhoni climb a spot to third with 779 points. Mike Hussey of Australia tops the chart with 810 points while his skipper, Ponting, sits precariously at the second spot with 780 points. Dhoni briefly held the number one position in April last year.
Meanwhile, rejuvenated left-armer Zaheer Khan has charged up ten places in the list to 27th position following his 5-42 in Margoa, while Munaf Patel climbs eight spots to 39th in the list, with his best-ever haul of rating points.
The race for the team championship is heating up, as absence of the illustrious quartet of Captain Ricky Ponting, Adam Gilchrist, Andrew Symonds and Brett Lee, against the Kiwis has further dented Australia's chances of holding on to the top slot.
The Aussies might have to relinquish the 'world champion' tag in favour of Graeme Smith's side for the first time since the rankings were introduced in October 2002, if they lose the three-match series to the Black Caps starting today.
Australia's ranking has slipped 10 points since May 2005, when it stood at 140 points while the South Africa has enjoyed a real surge in the shorter version, gaining 16 points and now they are within touching distance of the summit.
Below those top two sides there appears to be a league within a league as five sides, with fifth-ranked India rounding off its series with Sri Lanka at Visakhapatnam tomorrow.
Meanwhile, Pollock just keeps getting better as he heads both the bowling and all-rounder charts now.
The former captain's 5-23 in Johannesburg against Pakistan, has seen his bowling rating rise by another 10 points and that puts him third in the all-time list of top-rated bowlers in this form of the game.
Pollock has now overtaken Muttiah Muralidaran and only the pace-bowling pair of Sir Richard Hadlee from New Zealand and the West Indies' Joel Garner are ahead of him.
Harbhajan Singh and Ajit Agarkar are the only bowlers from India to figure in the top-20 while Rahul Dravid lies at 13th spot followed by the injured Sachin Tendulkar and Yuvraj Singh at the 19th and 20th spots respectively in the batting chart.
LG ICC ODI Championship:
Team: 1. Australia (130), 2. South Africa (128), 3. Pakistan (111), 4. Sri Lanka (109), 5. India (108), 6. New Zealand (107), 7. England (106), 8. West Indies (101), 9. B'desh (42), 10. Zimbabwe (22), 11. Kenya (0)
Batsmen: 1. Mike Hussey (Aus, 810), 2. Ricky Ponting (Aus, 780), 3. Mahendra Dhoni (Ind, 779), 4. Kevin Pietersen (Eng, 767), 5. Andrew Symonds(Aus, 748), 6. K Sangakkara (SL, 747), 7. Chris Gayle (WI, 741) 8. Mohammad Yousuf (Pak 731) 9. Adam Gilchrist (Aus, 723), 10. Graeme Smith (SA, 718)
Bowlers: 1. Shaun Pollock (SA, 920) 2. Glenn McGrath (Aus, 792) 3. Makhaya Ntini (SA, 746) 4. Daniel Vettori (NZ, 738), 5. Brett Lee (Aus, 736) 6. Nathan Bracken (Aus, 734) 7. Chaminda Vaas (SL, 730) 8. M.Muralidaran (SL, 720) 9. Ian Bradshaw (WI, 701) 10. Shane Bond (NZ, 684)
All-Rounders : 1. Shaun Pollock (SA, 483) 2. Chris Gayle (WI, 422) 3. Andrew Flintoff (Eng, 397) 4. S.Jayasuriya (SL, 367) 5. Jacques Kallis (SA, 365)