Paes, partnering Czech Lukas Dlouhy, lost an epic semifinal that spanned two days and lasted more than three hours in the Wimbledon last week.
And riding on that performance, Paes has taken his points tally to 2250 in the latest rankings.
The veteran is now just three places below former partner Mahesh Bhupathi, who rose a notch to 12th despite the shocking first-round exit from the Wimbledon.
Bhupathi, who partnered Bahamas' Mark Knowles in the grass court grand slam, has 2940 points.
Meanwhile, in the WTA rankings, Sania Mirza's stunning second-round exit in the Wimbledon has seen her slip one place to 33 with 867 points in the latest list.
However, Sania has gained from her quarterfinal appearance in the women's doubles event, rising a rung to 18th with 1855 points in the WTA doubles chart.