Spain climbed from sixth to second, demoting the US to third, while runners-up England and quarter-finalists France remained fourth and fifth in the latest rankings published on Friday.
Sweden, who were third before the World Cup, joined Germany as the only other team to have led the rankings after beating tournament co-hosts Australia to win bronze.
The US, who had held the number one spot since June 2017 and won back-to-back World Cups in 2015 and 2019, slipped out of the top two for the first time since FIFA introduced the rankings in 2003.
They recorded their worst performance at a World Cup after being knocked out by Sweden in a shootout in the last 16.
Australia dropped one place to 11th despite finishing fourth at the World Cup, with Japan (eighth) returning to the top 10 following a run to the quarter-finals. Co-hosts New Zealand remain 26th after their group stage exit.
Germany dropped four places to sixth and Olympic champions Canada fell three places to 10th after both sides failed to advance to the knockout rounds.
World Cup debutants Morocco were the biggest movers, jumping 14 places to 58th.
