Viru, whose triple ton was the fastest in Test history in 278 balls, registered a massive 17 per cent rise in his rating that saw him surge past compatriots Dravid (13th), Tendulkar (15th) and Laxman (18th) to become the top ranked Indian in the batting char, ICC said in a statement issued here on Monday.
Sehwag"s ranking is his highest in two years while in 2004, the 29-year-old from New Delhi had jumped to second place behind team-mate Rahul Dravid.
Dravid rose two places to 13th following his 25th Test century, while Tendulkar dropped three places to 15th position after a fifth-ball duck in the Chennai Test against South Africa.
On current form, Sehwag has a realistic chance of returning to the top 10. He is within touching distance of 10th place Kevin Pietersen of England who is just behind ninth-placed Shivnarine Chanderpaul of the West Indies.
Besides Sehwag, South Africa"s batting duo of Hashim Amla and Neil McKenzie have also made significant upward movement.
Amla, who made scores of 159 and 81, rockets up 10 places to a career-best 24th spot while McKenzie, who contributed 94 and 155 not out, jumps 26 places to 36th position. It is McKenzie"s first time in the top 40 in four years.
Jacques Kallis, however, continues his slide in the rankings as he slips another place to drop to fourth behind Australia"s Ricky Ponting, while captain Graeme Smith falls two places to 16th position.
Steyn closing gap on Murali: South Africa"s Dale Steyn took 4/103 to stay within touching distance of Sri Lanka"s Muthiah Muralitharan who still leads the list for Test bowlers.
India's Harbhajan Singh has climbed four places to 24th position after match figures of 8/265. The 28-year-old stands a good chance of returning to top 20 as only 25 ratings points separates him from James Franklin of New Zealand, who occupies that 20th place.
Kallis stays put on top in all-rounders category but he is on the verge of dropping below the 500-point mark after conceding 23 ratings points from the Chennai Test.
Irfan Pathan is the highest ranked India all-rounder in seventh place while captain Anil Kumble is in 10th position.
ICC Test Rankings:
Batting: 1) Kumara Sangakkara (916 pts); 2) Mike Hussey (912); 3) Ricky Ponting (899); 4) Mohd Yousuf (880); 4) Jacques Kallis (880); 6) Matt Hayden (860); 7) Mahela Jayawardene (844); 8) Younis Khan (799); 9) Chanderpaul (785); 10) Kevin Pietersen 784; 12) Sehwag 733; 13) Dravid 727; 15) Tendulkar 718; 18) Laxman 676; 26) Ganguly 622.
Bowlers: 1) Muralitharan (901 pts); 2) Dale Steyn (887); 3) Stuart Clark (829); 4) Brett Lee (795); Makhaya Ntini (753) Anil Kumble (731); Chaminda Vaas (717); Shane Bond (688); Shoaib Akhtar (684); Ryan Sidebottom (665) 13) Zaheer Khan (632); 19) Irfan Pathan (602).
All-rounders: 1) Jacques Kallis (504 pts); 2) Daniel Vettori (340); 3) Andrew Flintoff (320); 4) Chaminda Vaas (300); 5) Dwayne Bravo (265); 7) Irfan Pathan (254); 10) Anil Kumble (233)
Teams: 1) Australia (141 rating pts); 2) India (111); 3) Sri Lanka (109); 4) South Africa (109); 5) England (108); 6) Pakistan (94); 7) New Zealand (91); 8) West Indies (73) and 19) Bangladesh (1).