Despite only reaching the World Cup quarterfinals last year, Belgium moved up two places ahead of Germany and previous leaders Argentina.
World Cup champion Germany is No. 2, just ahead of Argentina, which fell two places in a top 20, dominated by European and South American teams. Portugal is No. 4 and Copa America champion Chile is 5th moving up four places.
While Spain, Colombia, Brazil, England and Austria complete the top 10, with England and Austria moving up one place each.
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This is the first time that Belgium, Chile and Austria have ever reached such heights on the global ladder.
FIFA Rankings as at November 5:
1. Belgium
2. Germany
3. Argentina
4. Portugal
5. Chile
6. Spain
7. Colombia
8. Brazil
9. England
10. Austria
The next FIFA rankings will be released on December 3, 2015.