The Babar Azam-led Pakistan side staved off a tough fight from South Africa in the second Test in Rawalpindi to mark their first series win over the Proteas in almost 18 years.
Misbah's position as head coach has come under constant criticism for failing to deliver the right results but the 46-year-old former skipper believes the team has the potential to climb to the summit of the Test rankings.
“The ultimate goal is to be number one in Tests and top three in other formats,” he told reporters in a video press conference.
“We have been telling the players about this target all through.”
It was under Misbah's leadership five years ago when Pakistan were able to briefly enjoy being world No. 1 in Tests. Subsequently, they witnessed a 27-month reign at the top of the T20I rankings in Sarfaraz Ahmed's captaincy before losing the numero uno spot last year.
Misbah also appeared to be confident about Babar's development as Pakistan's all-format captain and claimed he was the appropriate candidate to take the team forward.
“We are heading in the right direction and this win over South Africa has boosted the team's confidence under a new skipper who is developing with every game,” Misbah said.
Although Pakistan are out of contention for a place in the World Test Championship final, they will be keen on making an impact in the second edition of the competition.
The gradual return of top-flight international cricket in Pakistan also bodes well for the growth of the sport in the country as the likes of England, Australia and New Zealand are expected to tour in the next couple of years.