Halep will return to her career-high ranking after Sharapova was beaten 6-2, 5-7, 1-6 by Angelique Kerber in the second round of the Porsche Tennis Grand Prix in Stuttgart.
Despite moving back up to number two, Halep pointed out that she is more focussed on having a successful clay-court season.
"For this season of course I want to do something big at Roland Garros," she told the official WTA site. "But first I want to play good tennis here in Stuttgart, because like I've said before, every tournament is important for me. I would also love to play the final again in Madrid.
"It's not 100% about me – it depends on the draw, and it depends on the day, because everything is open, and everyone is playing well these days. So I just have to be ready and do a good job."
Halep also admitted that she feels proud to have become the player to beat at the Porsche Tennis Grand Prix.
"I don't feel pressure. I'm proud to hear that," she said. "Like I said, every player is playing really well. So I just want to stay focused for every match and see how far I can go in every tournament. That's really the most important thing in my mind right now."