The 32-year-old is the favourite to retain this year's Ballon d'Or after helping Real Madrid retain the Champions League title, in addition to wrestling the La Liga crown away from Barcelona last season.
The topic of Ronaldo against Barcelona's Lionel Messi has long been discussed, but Pele has stated that Ronaldo is "the best player, the best scorer and the best forward" in the world.
"Two years ago I gave the [Ballon d'Or] trophy to him and it was an honour for me," Pele told reporters. "The best player in the world? No doubt. As I have mentioned, I think that today there is no doubt the best player, the best scorer and the best forward is Cristiano Ronaldo."
Ronaldo has scored 406 goals in 394 appearances since joining Madrid from Man United in 2009, but the Portugal captain is said to be desperate to leave the Bernabeu this summer.