The 24-year-old signed a six-year deal with Los Blancos on Monday to complete his €100 million (£85.3m) move from Tottenham and is keen to team up with the former Manchester United star.
"For me, Cristiano Ronaldo is the best player in the world," Bale told the press. "His presence played a big part in my decision to join Madrid. It will be an honour to play alongside him.
|TOTTENHAM AFTER BALE
|9/1||Spurs are 9/1 with Bet365 to win the Europa League
"I don't need to help Ronaldo to be the best in the world - he has already shown it."
The Welshman went on to stress that his hefty price-tag does not put any extra pressure on him, declaring himself determined to help Madrid win silverware.
"The transfer fee is not something that affects me. It's something between Madrid and Spurs. It only brings extra pressure if I want it to," he remarked.
"The biggest pressure here is to help Madrid win trophies. I want to win silverware here and help the club win the Champions League."
Bale could make his official Madrid debut away against Villarreal on September 13 after the international break.