The 32-year-old scored 42 goals across all competitions during the 2016-17 season, leading Madrid to a La Liga and Champions League double.
As a result, Ronaldo was awarded the prestigious prize for the fifth time, drawing level with Barcelona star Lionel Messi for the most Ballons d'Or of all time.
After taking home the trophy, Ronaldo claimed that he is still in his prime and is looking forward to continuing his career with Los Blancos for the foreseeable future.
"I hope I can play at the greatest level for a few more years," Ronaldo told reporters in Paris.
"The battle continues with Messi. We're doing the best we can for our teams. I think things are happening for a reason.
"I feel good, let's see what happens in the future. I'm happy at Real and I want to stay and finish my career there if possible."
Ronaldo has won the award - presented by France Football - for the second year in a row and was also named the Best FIFA Men's Player of 2016-17 in October.