The Real Madrid star believes that Laurent Blanc's side will be difficult to stop in Europe and says that winning the Ballon d'Or "was one of the most beautiful nights of my life"
The Portugal captain, who has enjoyed another excellent campaign with 22 goals in 20 Primera Division games so far, was linked with a potential switch to Parc des Princes prior to signing a new contract at the Santiago Bernabeu in 2013.
And, with Laurent Blanc's men having drawn Bayer Leverkusen in the competition's first knockout round, he sees PSG as a major rival for the European crown.
"PSG will be a contender to win the Champions League," Ronaldo told Telefoot. "They're a strong team and will be hard to beat. They will be one of the favourites to win this competition.
"Maybe one day I'll be in France to live and to play - or maybe not," he added of the links to Ligue 1.
"I have a contract with Real until I am 33. I hope to stay here, I'm very happy."
Ronaldo claimed his second Ballon d'Or of his career in January after his sensational form in 2013 and the 28-year-old admits that the emotional ceremony will live long in his memory.
"Maybe people were surprised to see me cry [when I won]," he said, "but those who know me know that this is the real Cristiano. Someone honest.
"This is the reality, this is not the image that I give myself. It was natural. Having my son at my side, it was an incredible moment. It was one of the most beautiful nights of my life.
"[Franck] Ribery, like Lionel Messi, deserved to win it too. They accomplished a lot of thing but it was my turn. People voted for me because I had a superb season.
"It will be hard to beat my own record [of 69 goals in a season] but nothing is impossible. I will do my best, as always. I hope I will not have any injuries. I am prepared for this challenge. We'll see what happens."