The Portuguese forward is favourite to win the prestigious honour in the New Year, and his teammate has tipped him to be handed the gong.
"Cristiano should be given the Ballon d'Or," Bale is quoted as saying on Sky Sports News.
"He's proved he is the best all year, and all throughout last season. He is the best in the world and he deserves the award."
Bale scored his first Los Blancos hat-trick as they beat Real Valladolid 4-0 on Sunday.