In iris biometric recognition systems, protecting the storage and transmission of iris templates is crucial, and template protection techniques are pivotal for ensuring their security. A prevalent approach involves using indexing methods as an effective algorithm for iris template protection, leveraging the index or rank of the extracted iris code to generate a secure iris template. Meantime, many privacy threats to biometric data have emerged, necessitating heightened protection measures. Specifically, protecting the privacy of iris data is imperative within the context of iris template protection during recognition processes. As stipulated by the international standard ISO/IEC 30136, effective iris template protection must concurrently meet the criteria of irreversibility, revocability, and unlinkability. Nevertheless, existing indexing methods on iris template protection faced the formidable challenge of simultaneously fulfilling these three privacy requirements while maintaining the efficacy of iris recognition. This paper introduces a standard ranking (standardR) algorithm, named standardR, designed to enhance the security of iris templates by transforming each iris template into an irreversible representation. The experimental results on the benchmarked Casia-Iris-interval dataset, along with two additional iris datasets MMU1 and UBRIS 1, demonstrate the efficacy of the proposed algorithm. The proposed standardR algorithm achieves an equal error rate (EER) of 0.1695% and an area under the curve of 0.93011% with the Casia-Iris-Interval dataset. Furthermore, the algorithm maintains efficient recognition with a reduced iris code length of 1280 bits, a time complexity of O(n log n), and satisfies the biometric template protection (BTP) requirements in irreversibility, unlinkability, and renewability.