Ronaldo left Los Blancos for Juventus earlier this month, with his record for the Spanish giants standing at an incredible 450 goals in 438 appearances in all competitions.
Odriozola - a summer arrival from Real Sociedad - is confident that Ronaldo will be replaced before this summer's transfer window closes for business.
"I start to look at the squad and remember that this team won the Champions League just two months ago," Odriozola told reporters. "For me this is the best club in the world and I'm certain we are going to replace Cristiano."
Madrid will continue their preparations for the new campaign with a pre-season clash against Juventus on Saturday night.