The 22-year-old had picked up a five-for in both innings, finishing with a match haul of 11 wickets as South Africa won by six wickets to level the four-match series.
The pacer was awarded the man-of-the-match for his efforts but was later handed a two-Test suspension after being found guilty of two code of conduct breaches.
Rabada touched 902 rating points, his highest ever, to move ahead of Anderson (887) while India’s Ravindra Jadeja remains in the third spot (844).
Ravichandran Ashwin jumped two places in the rankings to climb to fourth position (803).
Look who’s back at No.1 among Test bowlers!
— ICC (@ICC) March 13, 2018
In the batting department, Australia skipper Steve Smith remained ahead of the curve with 943 points while his India and England counterparts completed the top three.
There was a big jump for Proteas stalwart AB de Villiers after his fabulous performances in the Australia series so far. He moved back in the top 10 as he climbed five spots to claim the seventh spot in the rankings.
In the team rankings, India remained on top of the pile, having already been presented the ICC Test Championship mace while South Africa have been assured of second spot.
With New Zealand set to host England in a two-Test series, both sides have a chance to improve their rankings. The visitors could leapfrog the Black Caps into fourth spot with a series win although the hosts can reach as high as third if they turn out victors. They will however need third-ranked Australia to lose 3-1 to South Africa for that to happen.
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