The Stan Wright-coached is placed ahead of fellow Pacific island teams Guam (74), Tahiti (82), Papua New Guinea (85), Niue (98), Solomon Islands (100), Vanuatu (104) and American Samoa (105).
The national side has 45.11 points which is half of what New Zealand, the top ranked nation, has.
New Zealand remains the top ranked rugby union side in the world followed by Wales and Ireland in second and third places, respectively.
Cook Islands Rugby Union earlier blamed lack of international matches as the factor for the poor ranking.
In July last year, the national team improved in its rankings following the Rugby World Cup qualifying matches against Hong Kong.
Cook Islands played well in the opening match but lost to a better-ranked Hong Kong 3-26 at the BCI Stadium before going down heavily 0-51 in the second match at the Hong Kong Football Club.
Meanwhile South Africa move above England into fourth place following their last-gasp draw against New Zealand in Wellington over the weekend.
“Handre Pollard’s last-gasp conversion earned South Africa a 16-16 draw against New Zealand as well as one rating point in the World Rugby Rankings,” said World Rugby.
“By improving their rating to 86.30 points, South Africa overtake England and move into fourth place in the rankings with a gap of just three-hundredths of a point between the sides.”
Top 10 – 1. New Zealand, 2. Wales, 3. Ireland, 4. South Africa, 5. England, 6. Australia, 7. Scotland, 8. France, 9. Fiji, 10. Argentina.