The Portuguese made the breakthrough with a clinical finish in the first half after being played through on goal by Isco.
Find out how the action unfolded below.
Good evening everyone! Our coverage of this week's Champions League action continues with a look at one of the favourites to lift the trophy next May. Real Madrid have made an unbeaten start to life under Rafael Benitez and will be heavily fancied to pick up all three points as they take on Malmo in Sweden.
Madrid kicked off their Champions League campaign two weeks ago with a thumping victory over Shakhtar Donetsk to underline their intentions this season. Their fans will not accept anything less than another win tonight, as they look to improve upon last term's semi-final exit to Juventus.
Malmo did not get off to the best of starts in their opening group match, as goals from Angel Di Maria and Edinson Cavani saw them slip to a 2-0 defeat at Paris Saint-Germain. The Swedish champions have also endured a poor domestic season and they are on the verge of missing out on European qualification for next year.
MALMO XI: Wiland, Tinnerholm, Yotun, Bengtsson, Arnason, Lewicki, Adu, Rodic, Rosenberg, Berget, Djurdjic
REAL MADRID XI: Navas, Carvajal, Varane, Nacho, Arbeloa, Kroos, Casemiro, Kovacic, Isco, Ronaldo, Benzema
MALMO SUBS: Andersson, Carvalho, Vindheim, Rakip, Wolff Eikrem, Mehmeti, Sana
REAL MADRID SUBS: Casila, Marcelo, Vazquez, Modric, Cheryshev, Jese, Mayoral
So, that's how each team is looking this evening. Real Madrid have gone with Cristiano Ronaldo and Karim Benzema in their attack, with both players among the goals this season. However, the visitors have had to deal with an injury crisis, which has seen Sergio Ramos, Pepe, Danilo, James Rodriguez and Gareth Bale all ruled out.
Meanwhile, the hosts will be relying on captain Markus Rosenberg to provide their biggest threat. Jo Inge Berget, whose goals proved vital in the qualifiers against Celtic, and Nikola Durđic will also make up their attack.
At the start of every season Real Madrid's number one priority is to to lift the Champions League, and it is no different this time around. They have won the European Cup a record 10 times, while this season will mark their 19th consecutive appearance in the group stage of the tournament.
Their last success in Europe came two seasons ago, where they eventually triumphed 4-1 in the final against city rivals Atletico Madrid after extra time. That ended a run of 12 years without lifting the trophy, but they were unable to become the first team to successfully defend their title, as they were dumped out by Juventus in the semi-finals last season.
Once again they are heavily fancied to win the cup this season, with only holders Barcelona and Bayern Munich ahead of them in most people's opinions. They certainly made their mark on the opening matchday, as a hat-trick from Cristiano Ronaldo helped them to convincing 4-0 win over Shakhtar Donetsk.
On the domestic front they have not made a bad start to the season, and are unbeaten in their first six La Liga matches. As things stand, they are currently third in the table and sit two points behind early leaders Villarreal, but a goalless draw against Malaga at the weekend slowed their momentum somewhat.
They actually recorded 31 shots on goal, but for the third match in a row Cristiano Ronaldo drew a blank. However, the Portuguese has scored eight goals already this season and memorably scored five of his side's goals in a 6-0 hammering of Espanyol earlier this month.
Madrid also have a manager who has enjoyed plenty of success in Europe over the years. Rafael Benitez was of course in charge of Liverpool when they came from three goals down against AC Milan, before eventually winning on penalties in one of the great Champions League finals 10 years ago. He had won the UEFA Cup with Valencia the previous season, while he also helped Chelsea to victory in the Europa League in 2013.
Taking on Madrid this evening are a Malmo side who are playing in the group stage of the Champions League for the second successive season. Things didn't go too well for them last year though, as they finished bottom of the group after picking up just one victory.
It has been a long road for them to get to this stage, as they started their campaign in the second qualifying round in the middle of July, with a narrow victory over Zalgiris Vilnius. They then came from behind to beat Red Bull Salzburg, before fighting back once again to knock out Celtic in the playoff round.
However, their domestic form has suffered and they are currently fifth in the Swedish top flight, with just four games left to play. A third title in a row is practically out of their reach, and it seems as if they will also miss out on a place in Europe, as only the top three teams in the division can qualify.
Tonight marks the first-ever meeting between Malmo and Real Madrid, and the first time that the visitors have played a team from Sweden. In last season's group stage Malmo too on Atletico Madrid, but they suffered a 5-0 defeat in Spain, before losing 2-0 at home.
Well, we could also be in for a historic evening in Sweden, as Cristiano Ronaldo is on the verge of becoming Real Madrid's all-time top scorer. He has only played 307 games for the club, making his achievements all the more remarkable.
In this evening's other Group A match, Shakhtar Donetsk are playing host to Paris Saint-Germain at their temporary home in Lviv. We have got all the action from that clash right here, while we will also be covering all of today's other European fixtures.
We're nearly all set to go here, as the teams have made their way out onto the pitch. It would certainly be a huge shock if Malmo were to claim the points, but their youth side did just that earlier this evening by earning a 1-0 victory over the Spaniards.
KICKOFF! We are underway at the Swedbank Stadion!
SHOT! The first attempt of the night comes from Isco, but it's not one the midfielder will want to remember. He latches onto a loose ball outside the box and drills in a low shot, but he ends up scuffing it well wide of the target.
Real Madrid are already well on top and they are seeing plenty of the ball deep inside their opponents' half. The Swedes are getting pushed back right onto the edge of their own box and already an early goal for the visitors looks likely.
SHOTS! Despite the pressure from the hosts, Malmo work two chances on the visitors' goal. Tinnerholm is first to threaten with a low drive from outside the box that is straight at Navas, before Rosenberg seizes on a loose pass and drills in a similar effort that the keeper saves once again.
YELLOW CARD! Kovacic picks up an early booking for the visitors after bringing down Tinnerholm as the defender looked to break from a corner. The Croatian international had just seen a volley from the edge of the box deflect wide prior to the set piece.
Malmo have relieved some of the early pressure that they were coming under and they are looking to break in numbers whenever they win the ball. They have done a good job of closing down space for Ronaldo and Benzema, but we know that it takes just a slight lapse for either of those two to make the difference.
SAVE! What was I just saying about Benzema and Ronaldo? The two come to life, as Benzema latches onto a long throw down the left and gets to the byline. He then pulls the ball back to Ronaldo, who looks to fire a low strike into the corner, but Wiland gets down well to parry his effort to safety.
SAVE! Ronaldo has another opening when he receives the ball out wide on the right-hand side of the box. He doesn't have any options in the middle, so decides to try his luck, but his powerful attempt is straight at the keeper who beats it away from danger.
Malmo will be very pleased at how things have gone for them so far this evening, as they were already behind in their last match against PSG. They are showing no fear against their illustrious opponents and look to have real physical presence with Rosenberg leading the line.
YELLOW CARD! Rosenberg barges Casemiro to the ground and is promptly booked by the referee.
SHOT! Malmo are awarded a free kick just outside the box in a promising area and Berget stands over the ball. The Norwegian then curls in a strike looking for the corner, but Navas is quickly across his line to make a comfortable save.
In this evening's other Group A match, PSG are currently two goals up against Shakhtar Donetsk. Serge Aurier and David Luiz have scored the goals, which look set to put the French champions on top of the group.
GOAL! Malmo 0-1 Real Madrid (Cristiano Ronaldo)
For all of Malmo's good defensive play this evening, they are sliced apart at the back here. The visitors break quickly and Isco picks the ball up inside the opposition half. He then slides a fantastic ball through to Ronaldo, who keeps his composure to fire a strike into the corner and move a goal closer to equalling Raul's record.
There was a sense of naivety from Malmo as they pushed a number of players forward for a set piece. As soon as they lost the ball, they were unable to deal with the pace of Real on the counter and Ronaldo was never going to miss the opportunity when he was played clean through on goal.
YELLOW CARD! The third booking of the opening half is handed to Berget for a late challenge on Carvajal. It appears that Yotun was also booked by the referee for his protestations.
YELLOW CARD! The cards are certainly beginning to pile up now and Casemiro goes into the referee's notebook for a rash tackle on Djurdjic.
As we approach half time, Madrid are still dominating the possession and playing it around with ease between their midfield and defence. However, they have been guilty of losing the ball cheaply on more than one occasion, meaning that the hosts are not quite out of his match yet.
OFF THE BAR! This would have been a superb goal had it found the back of the net. Carvajal is the man who comes close to scoring, as he latches onto a loose header inside the box, and fires in a brilliant volley from a tight angle, that beats the keeper but comes crashing back off the woodwork.
SHOT! It is perfectly set up for Ronaldo to score a second, as Madrid win a free kick a few yards outside the box. The Portuguese then fires in a low drive which hits the wall, before he latches onto the rebound and sees another effort blocked, as Malmo eventually scramble the ball clear.
HALF-TIME: Malmo 0-1 Real Madrid
The referee decides against adding any time on to the end of the half, and blows for the whistle with Real Madrid in front. A 500th career goal for Cristiano Ronaldo is what separates the sides, with the Spaniards well on top this evening.
The statistics from the opening 45 minutes sum up just how dominant Real Madrid have been. Rafael Benitez's side have seen a huge 77% of the ball and have had 11 shots on goal. Malmo have only managed three efforts and have yet to seriously trouble Keylor Navas.
As things stand, Real are currently top of Group A on goal difference, with PSG leading 2-0 against Shakhtar. Elsewhere in Europe, Manchester United have come from behind to draw level against Wolfsburg, Manchester City are holding Borussia Mnchengladbach to a goalless stalemate, and Juventus are a goal up against Sevilla.
RESTART! Malmo kick off the second half and get the action back underway.
The second half has begun in similar fashion to the way the opening period ended, with Madrid in control of the ball. They haven't created any chances to add to their lead so far, but you get the feeling another goal is well within their grasp.
CHANCE! Benzema shows great skill to get in behind down the right, before whipping in a cross to Isco on the edge of the box. The Spaniard then chests it down for the arriving Kovacic, who fires in a powerful low drive that skids a few inches wide of the post with the keeper left stranded.
Over the past few minutes, the hosts hosts have enjoyed a good spell in the match and are pushing more players forward. They also looked lively down the wings, but they won't want to be caught out on the break as they were in the first half.
Ronaldo has another chance to threaten from a set piece, when the visitors are given a free kick around 25 yards out from goal. He then fires in a powerful strike, but again it is a disappointment as he fails to clear the wall.
SHOT! Madrid are starting to crank up the pressure and they are looking for a second goal to make the game safe. Kroos also gets involved, as he is found by Benzema just outside the box, and drills in a shot that ends up taking a deflection and going harmlessly wide of the post.
Malmo are almost caught out at the back, as the hosts break from a corner and they look to pick out Ronaldo with a long ball over the top. For a moment it looks as if the Portuguese is in after breaking past the defence, but Wiland comes rushing off his line to clear the danger.
SUBS! Changes or both teams, as Wolff Eikrem is on in place of Rodic for Malmo, while Modric comes on to replace Benzema for Madrid.
With just 20 minutes left to play this evening, there is still every chance of Malmo taking a point, although they have created very little in front of goal. For the most part, they have dealt well with the threat of Ronaldo, with just a lapse in concentration costing them dearly.
SUB! It's another change for Madrid, with Vazquez coming on to replace Kovacic.
CHANCE! It only takes a moment to find the net and Malmo finally work a promising opening. Rosenberg has not had too many chances to use his height, but he gets above his marker to meet Tinnerholm's cross from the right, before directing a header a few yards wide of the post.
YELLOW CARD! Isco becomes the sixth player to be shown a card by the referee this evening for a foul on Tinnerholm.
RED CARD TO MALMO! Malmo's hopes of snatching a point are dealt a blow as Yotun is shown a second yellow card for bringing down Vazquez and is subsequently sent off by the referee. It was not the worst challenge, but the defender can have little arguments after a clear foul.
SAVE! Ronaldo almost scores a goal out of nothing, as he is played the ball on the edge of the box, before turning and firing in a strike towards the top corner. However, Wiland reads the shot well and manages to stick out a strong hand to tip the ball over the bar.
SUB! Carvalho is being brought on by Malmo in place of Djurdjic.
SUB! Madrid are also making a change, as Cheryshev is on to replace Isco.
SAVE! Ronaldo could very well have scored a hat-trick this evening if it wasn't for Wiland. He is slid through by Modric and looks to fire a strike into the corner, but the keeper makes another superb one-handed save to help the ball over the top.
SHOT! Madrid really should have had this game wrapped up by now as another chance goes begging. Cheryshev charges down the left and he has Ronaldo in support making a run to the back post. Instead of picking out his teammate, the Russian tries to find the far corner himself, but his low drive across goal goes wide of the post.
GOAL! Malmo 0-2 Real Madrid (Cristiano Ronaldo)
Madrid finally make the game safe thanks to a record-equalling goal from Ronaldo. The Portuguese has the simple task of slotting in Vazquez's low cross from just a couple of yards out, to draw level with Raul as the joint-leading scorer in the club's history.
FULL-TIME: Malmo 0-2 Real Madrid
It's all over in Sweden and Real Madrid have earned a 2-0 victory over Malmo to keep up their winning start in this season's Champions League. Cristiano Ronaldo will take all of the headlines though, as the Portugal captain scored twice to equal Raul's record of 323 goals for the La Liga giants.
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That just about all we've got time for this evening. We'll have analysis and player ratings of tonight's match to come, as well as all of the reaction from across Europe. I hope you have enjoyed our coverage. Goodbye!