India opener Shubman Gill also made huge gains in the updated T20I rankings.
Hardik has overtaken Mohammad Nabi to claim second spot after returning with impressive bowling figures of 4/16 from four overs in Ahmedabad.
The India captain on the day had earlier slammed 30 runs from 17 balls, then helped ensure a commanding victory by dismissing Kiwi batters Finn Allen and Glenn Phillips in his opening two overs.
Pandya is now on a personal high 250 all-rounder ranking points, only two points behind Bangladesh veteran Shakib Al Hasan for top spot.
India opener Shubman Gill made huge gains after carrying his bat through the innings for a remarkable 126* from 63 balls against New Zealand in third T20I.
Gill has leapfrogged 168 places from outside the top 100 in the T20I Batting Rankings to equal-30th after playing only six T20Is.
India’s Suryakumar Yadav occupies the top spot among batters, while Afghanistan spinner Rashid Khan remains the No.1 ranked bowler.
Left-arm Indian pacer Arshdeep Singh is another one to move up the rankings, gaining eight slots to reach a career-best 13th position after finishing with two for 16 in Ahmedabad.
Daryl Mitchell, who top-scored for New Zealand with 35 in their total of 66, has advanced four spots and is in joint-25th position in the latest weekly update.
(With ICC/ANI Inputs)