The former Santiago Bernabeu star, who also spent a spell at Camp Nou, says the 21-year-old has already achieved legend status in Brazil
The 21-year-old joined the Catalans for €57 million in June, choosing to sign a five-year contract with the Blaugrana over the Blancos, who were also chasing his signature.
Ronaldo, who spent one year at Camp Nou and five years at the Santiago Bernabeu, admits that the move would not have been his ideal option but believes that the Brazilian "legend" will still thrive at Tito Vilanova's side.
"I would have preferred him [Neymar] to sign for Madrid, but it's not for me to say," he told reporters in Las Vegas.
"With so many clubs after him it was difficult to pull off. But Barcelona is a great team and we know he'll do well in Europe. For us Brazilians he is already a legend."
Neymar was one of the stars of the Confederations Cup for the victorious Selecao in June and scored the second goal in Luiz Felipe Scolari's side's 3-0 win over Spain in the final.