Italy's recent results have seen them climb to sixth place in the FIFA World Rankings.
The Azzurri had slipped out of the top 10 after the disastrous 2010 World Cup in South Africa last summer.
They have been transformed under Coach Cesare Prandelli and this month climbed to sixth position from ninth in May.
The ranking status could prove crucial when it comes to the draw for the 2014 World Cup qualifying campaign, which will be held on July 30 in Rio de Janeiro.
World and European champions Spain continue to lead the way, followed by Holland, Germany, England and Brazil.