Australia has slipped to fourth in world cricket's Test rankings.

The Australians had been third behind top-ranked India and New Zealand, only to be overtaken by England in fresh rankings released by the International Cricket Council (ICC) on Thursday.

Under the ICC's rolling points system, the new rankings weigh Tests played since May last year at 100 per cent and those played in the two years prior to that date at 50 per cent.

The new rankings eliminate results from 2017/18 - erasing Australia's 4-0 Test series win over England.

England (109 points) subsequently overtake Australia (108), with India (121) and New Zealand (120) holding the top rankings.

India will meet the Black Caps in the inaugural world Test championship final in Southhampton starting on June 18.

Pakistan (94), West Indies (84), South Africa (80), Sri Lanka (78), Bangladesh (46) and Zimbabwe (35) round out the rankings.