With just over six weeks until the Olympics in the French capital, the 28-year-old has replaced Denmark's Viktor Axelsen as the top-ranked men's player.
Shi Yuqi showed off his dazzling form on Sunday by defeating another Dane, Anders Antonsen, 21-9, 12-21, 21-14 to win his first Indonesia Open title.
Defending Olympic champion Axelsen withdrew from the tournament ahead of the Jakarta tournament due to injury, meaning Shi Yuqi would have been the new number one player regardless.
"Overall, I think it's difficult for me to be number one, and the process of winning here is not smooth sailing," Shi Yuqi said in the Indonesian capital.
"This tournament is seen as a practice before the Olympics," he added.
"I still don't know how far I can go, but I will do my best to be the champion there."
Axelsen sprained his ankle at the recent Singapore Open and last week promised to "come back soon."
