Jadeja has caught up with Ashwin in the rankings after the second Test against Australia in Bengaluru which India won by 75 runs on the fourth day yesterday.
Jadeja's seven wickets in the match, which included a crucial six for 63 in the first innings, have helped him move up one rank to reach the top position for the first time in his career, the ICC said in a statement.
The last time two bowlers shared the top spot was in April 2008 when Dale Steyn and Muttiah Muralidaran were at the top.
In the lost for batsmen, India captain Virat Kohli has conceded the second rank to England's Joe Root after managing only 27 runs in the match and 40 in the series so far. Root is now one point ahead of Kohli at 848 points.
Cheteshwar Pujara's innings of 17 and 92 have lifted him up five places to sixth rank while Ajinkya Rahane has moved up two places to 15th rank after scoring 17 and 52 in Bangalore. Player of the match Lokesh Rahul has gained 23 places to reach 23rd spot after scores of 90 and 51.
In the rankings for Test batsmen, Australia captain Steve Smith has maintained his reign at the top for 77 Tests, going past Ricky Ponting's 76 matches and now has the third longest stint at the top among Australians after Steve Waugh (94) and Don Bradman (93).
His team-mate Matt Renshaw has gained six places to reach a career-best 28th rank with knocks of 60 and five. Left-hander Shaun Marsh has moved up five places to 37th position with scores of 66 and nine.
India's win in the second Test assured them the No.1 spot in the ICC Test Team Rankings on the April 1 cut-off date and a cash prize of USD one million. The fight is now for the second, third and fourth places.
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