Sri Lankan left-arm spinner Rangana Herath was the chief destroyer, capturing 13-145 in the final Test in Colombo, and 28 scalps across the series at 12.75.
But almost every player contributed to the victory; rescuing them from 117 runs all out in the first Test in Kandy and being 5-26 in the final Test in Colombo.
Apart from fast bowler Mitchel Starc, who took 24 wickets at 15.16 in the series, Australia failed to live up to their reputation. Lack of application was the main reason for their batting collapses after promising starts.
After their convincing victory over Australia, Sri Lanka is ranked No.6 – overtaking South Africa.
India (112 points) has a one-point lead over Pakistan (112), who drew 2-2 in their recent Test against England last week.
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Australia shares the third place with England (108 points each).
Now India has to win the final Test against West Indies in Port-of-Spain, starting today, to retain their top ranking.
A draw or a loss would result in Pakistan becoming No.1 for the first time since the official rankings were introduced in 2003. Their highest placing to date is second, which they achieved following the series win over England in the UAE at the end of 2015.
So the gold rush is on between the neighbouring nations India and Pakistan, not in Brazil, but Trinidad and Tobago.