The former Barcelona striker believes the former Spurs star will get along fine with the Portugal international at the Bernabeu.
The 24-year-old joined the Santiago Bernabeu side for a world record fee in the summer transfer window - a sum that eclipsed the money spent by Madrid in buying Ronaldo from Manchester United in 2009.
However, the Brazil legend does not think that the arrival of another high-profile name will have a negative impact on the Portuguese and backs the pair to work well together.
"I believe that these two players will do very well at Madrid and form a fine partnership," Ronaldo told AS. "Cristiano and Bale will make the Madrid fans happy. They will triumph together and the fans will enjoy their partnership.
"They will do some great things together and I have no doubt that they will get along just fine. Great players always understand each other. The Madrid faithful are in for a treat."
Bale could make his official Madrid debut at the weekend away against Villarreal.