The Wildcats (10-0) dislodged the Crimson Tide from the BCS top spot following their convincing 23-10 win at Texas Christian Saturday coupled with Alabama's first loss of the season -- an upset at the hands of Texas A&M.
Oregon, meanwhile, held off fellow unbeaten Notre Dame for the prized second spot by 0.010 points following its easy victory against California.
The teams in the first and second slots at the end of the regular season face off for the national title under the computerized BCS system.
The Fighting Irish settled for No. 3 after their win over Boston College. Alabama tumbled to fourth.
The Tide are followed by five more Southeastern Conference teams in the fifth-through-ninth spots -- Alabama, Georgia, Florida, Louisiana State, Texas A&M and South Carolina.
Florida State rounded out the Top 10.