Italy have risen in the FIFA World Ranking to number eight after good results under Cesare Prandelli.
The Azzurri were in ninth position last month, but have climbed one place in the lead-up to Euro 2012.
Spain remain top, followed by Germany, who have leapfrogged Holland into second.
Fabio Capello may have resigned and left England without a manager, but they are still in fifth place.
Argentina slipped out of the top 10, while African Cup of Nations winners Zambia go into the top 50 for the first time in 11 years.
Think you know your Italian football? Share your knowledge, tips and comments to win cash prizes in OLBG's tipster competition  - £11,000 to be won monthly!