They have reaped the rewards for their impressive performances during India's back-to-back victories over Australia in the first two Tests of four-match series.
Pujara, named player-of-the-match for his double-century in the second Test in Hyderabad, has jumped 12 places to a career-best 11th position, while Ashwin, who finished with figures of six for 104, is now at a best-ever eighth spot, having jumped three places.
However, Sachin Tendulkar has lost two positions to be at 19th place, along with Darren Bravo of the West Indies.
In the bowlers' chart, besides Ashwin, other Indians have also improved their rankings. Harbhajan Singh had gained a point to be in 25th spot, Ravindra Jadeja in 40th (up by 23) and Bhuvaneshwar Kumar in 97th (up by 28).