The 10-team table incorporates results from all formats of the game - one-day internationals, Twenty20 and Tests.
Australia are the ODI and T20 world champions, and beat England in this summer's multi-format Ashes series.
"These are undoubtedly exciting and historic times for women's cricket," former England captain and ICC women's committee chair Clare Connor said.
The ICC rankings will be updated at the end of each series.
England are second in the world behind Australia in the International Cricket Council's first women's team rankings.