The ex-Real Madrid forward believes a final between the world champions and hosts Brazil would be spectacular, while reserving special praise for Vicente del BosqueFormer Brazil striker Ronaldo has backed Spain over his native Brazil to win the 2013 Confederations Cup in June.
The ex-Real Madrid and Barcelona star believes the world and European champions are perfectly poised for success in Brazil as a result of their impressive form at club level, and has welcomed the idea of a final against his native country in the build-up to World Cup 2014.
"Spain have the style and the players that the whole world would love to have," he admitted to the Spanish Football Federation's official website.
"They have the base of players from Real Madrid and Barcelona, who are the two best clubs in the world.
"At this moment, Spain are the big favourites to win. They are world and European champions.
"A final between Brazil and Spain would be spectacular for everyone. Although Spain are better than Brazil, playing at home could help."
The 2002 World Cup-winner also praised Spain coach Vicente del Bosque, who he played under during his time with los Blancos, and extolled the man-management skills of the 62-year-old.
"I love how Vicente del Bosque works and how he is as a human being. He is charming and all the players love how he is as the leader of the team," Ronaldo added.
"His talks lasted three or four minutes, not an hour. He knows how to win over a player."