Belgium and World Cup winners France are the first teams to share top spot in the FIFA rankings in the classification's 25-year history.
Roberto Martinez's side, defeated by Les Bleus in the semi-finals at Russia 2018 before claiming third place, overcame Scotland 4-0 in a friendly and won their Nations League debut 3-0 against Iceland earlier this month to join the world champions at the summit.
France, meanwhile, were held to a goalless draw by Germany in Munich before beating Netherlands 2-1 in Nations League Group A1.
The only other change in the top 10 saw Denmark slip down one place to 10th, below Spain.
After their humiliating group-stage exit at the World Cup, Germany rose a further three positions and now sit 12th.
The biggest movers were Ukraine, who climbed six spots to 29th courtesy of Nations League triumphs over Czech Republic and Slovakia.