The Frenchman reached the final four of the ATP World Tour Masters 1000 event before bowing out to David Ferrer who, in turn, lost to Roger Federer in the final.
However, his semi-final effort ensured he moved up 14 places to 27th in the world with Ferrer also jumping up a place into the top five thanks to his final appearance.
Poland's Jerzy Janowicz is another big climber, moving 13 places to 52nd having reached the last 16 in Cincinnati before losing to Benneteau.
While the world's top four remain unchanged, Ferrer and Milos Raonic occupy fifth and sixth respectively while Tomas Berdych drops to seventh after a tough time in Ohio.
The Czech, seeded fourth for the competition, bowed out at the first hurdle to Lu Yen-hsun.
In the WTA rankings, Ana Ivanovic replaces Victoria Azarenka in the top ten after the Serb contested the Western and Southern Open final on Sunday.
Despite losing out to world number one Serena Williams, she moves into ninth while Azarenka drops seven places having lost in the quarter-finals to Agnieszka Radwanska.
Svetlana Kuznetsova sits just outside the top 20, having reaching the last 16 before losing to Ivanovic in Cincinnati.
Like Kuznetsova, Roberta Vinci moves up three places despite bowing out at the first hurdle against Sabine Lisicki at the hard-court event in the United States.