The Portugal international, 28, was heavily linked with a move to PSG earlier this season after his declarations that he was unhappy at the Santiago Bernabeu side, but les Parisiens' sporting director Leonardo denied this week that the Paris giants have made an approach for Ronaldo.
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"I think Cristiano Ronaldo joining PSG is possible," Pauleta told beIN Sport.
"The people in charge at PSG are very competent. They are able to buy a player if they think it's necessary. Cristiano Ronaldo is a spectacular player and I hope that Paris can recruit more players like him and [Zlatan] Ibrahimovic in the future.
"I would love to see another Portuguese player at PSG. It would be huge for the Portuguese community in Paris."
Ronaldo has a contract with Madrid until the summer of 2015.