A year ago, the 21-year-old from Chennai was ranked 17.
Her next target is to better her rankings break into the top-five.
Pallikal is coached by six-time world champion Sarah Fitz-Gerald of Australia.
India's Joshana Chinappa also jumped a place to 31 in the year-end rankings.
Dipika has won the German Open, Dutch Open, French Open, Australian Open, Scottish Open on the European Junior Squash Circuit.
She clinched her first of three 2011 WISPA titles in September by winning the Orange County Open in Irvine, California. She notched up her second in the United States with another WISPA tour event victory. The third came in Hong Kong in the Crocodile Challenge Cup in December.
However, it was her performance in the World Open that shot her into the limelight. She finished in the top eight there.
Earlier this year, she was conferred with the Arjuna Award.