The left-hander smashed 59 in the tied final match between India and New Zealand, which helped him gain one slot to reach the third position while Glenn Phillips (up one place to seventh among batters).
He now sits behind, India star Suryakumar Yadav (890) and Pakistan wicketkeeper-batter Mohammad Rizwan (836), who are first and second respectively.
Babar, who will not be featuring in the T20I until next year, is at the fourth spot with 778 points.
Australia openers David Warner and Travis Head have made notable gains in the ICC Men’s ODI Player Rankings after an epic 269-run partnership at the Melbourne Cricket Ground.
Warner gained one spot to reach the fifth position in the list after a score of 106 in the final match that helped him finish with 240 runs and win the Player of the Series award.
Head, who accumulated 208 runs after his Player of the Match effort of 152 at the MCG, has progressed 12 spots to reach the 30th position.