The Hoosiers (25-4, 13-3 Big Ten) went from No. 1 to No. 2 in both polls. Indiana, which lost at Minnesota last Tuesday before beating Iowa last Saturday, swapped places with No. 1 Gonzaga in the polls.
The Bulldogs have the best record in Division I basketball at 29-2, and received 51 for the 65 first-place votes.
IU received seven first-place votes, and No. 3 Duke (25-4) got five first-place votes. Kansas came in at No. 4 in the poll, and Georgetown, which received two first-place votes, is No. 5.
The Hoosiers enter the final week of the season with at least a share of the Big Ten regular-season title, thanks to Purdue's 69-56 upset of Wisconsin and Michigan's 58-57 win over Michigan State on Sunday.
Indiana can claim its first outright Big Ten title since 1993 with a win Tuesday night against Ohio State. The Hoosiers finish the regular season Sunday at Michigan.
"We're extremely excited about the fact that we have clinched at least a share of this going into this week," Indiana coach Tom Crean said during Monday's Big Ten coaches' teleconference.
"The great thing about our guys is once they learned (the team had a share of the title), they were excited but within minutes they went right back to work inside of practice."
Other Big Ten teams in the AP Top 25 are No. 7 Michigan, No. 10 Michigan State, No. 14 Ohio State and No. 22 Wisconsin.
Other Big Ten teams in the coaches' poll are No. 8 Michigan, No. 12 Michigan State, No. 13 Ohio State and No. 21 Wisconsin.
The Indiana women's team will begin Big Ten tournament play Thursday night at Sears Centre Arena in Hoffman Estates, Ill.
The Hoosiers (11-18, 2-14) finished last in the conference and play fifth-seeded Michigan (20-9, 9-7) in the final game of the tournament's opening day. IU's game will tip off 25 minutes after eighth-seeded Minnesota plays ninth-seeded Ohio State at 6 p.m.