The former iconic forward believes a final between the world champion and host Brazil would be spectacular, while reserving special praise for Vicente del Bosque.
Ronaldo believes the reigning world and European champion is perfectly poised for success in Brazil as a result of its players' impressive form at club level, and he 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," Ronaldo told 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 favorites 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, under who he played under during his time with Real Madrid, 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 said. "His talks lasted three or four minutes, not an hour. He knows how to win over a player."