Jadeja's seven wickets in the match, which included a crucial six for 63 in the first innings, have helped him move up one rank to reach the top position for the first time in his career, the ICC said in a statement.
The last time two bowlers shared the top spot was in April 2008 when Dale Steyn and Muttiah Muralidaran were at the top.
Ashwin too played an important role in the Bengaluru match. His eight wickets took him past spin legend Bishan Bedi's tally of 266 wickets and made him the fifth-highest wicket-taker for India in Tests with 269 wickets.
In the lost for batsmen, India captain Virat Kohli has conceded the second rank to England's Joe Root after managing only 27 runs in the match and 40 in the series so far. Root is now one point ahead of Kohli at 848 points.
Cheteshwar Pujara's innings of 17 and 92 have lifted him up five places to sixth rank while Ajinkya Rahane has moved up two places to 15th rank after scoring 17 and 52 in Bangalore. Player of the match Lokesh Rahul has gained 23 places to reach 23rd spot after scores of 90 and 51.
Australia spinner Nathan Lyon's eight wickets in the match have lifted him two places to 16th rank. His team's left-arm spinner Steve O'Keefe and India pace bowler Umesh Yadav have gained one place each to reach career-best 28th and 29th places, respectively.
In the rankings for Test batsmen, Australia captain Steve Smith has maintained his reign at the top for 77 Tests, going past Ricky Ponting's 76 matches and now has the third longest stint at the top among Australians after Steve Waugh (94) and Don Bradman (93).
His team-mate Matt Renshaw has gained six places to reach a career-best 28th rank with knocks of 60 and five. Left-hander Shaun Marsh has moved up five places to 37th position with scores of 66 and nine.
The list of all-rounders saw a change at the top as Bangladesh's Shakib Al Hasan moved ahead of Ashwin, who has scored only 20 runs in four innings against Australia so far. Ashwin had overtaken Shakib in December 2015.
India's win in the second Test assured them the No.1 spot in the ICC Test Team Rankings on the April 1 cut-off date and a cash prize of USD one million. The fight is now for the second, third and fourth places.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.