The two-time World Cup winner believes the Selecao will be just as strong without the 22-year-old in their ranks and has slammed the foul which injured him.
The Barcelona forward was stretchered off in the closing stages of his team's quarterfinal victory against Colombia and was promptly ruled out of the remainder of the tournament with a back injury.
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However, Ronaldo, twice a World Cup winner himself, believes his nation will be able to cope just fine without the 22-year-old in the upcoming semifinal tie with Joachim Low's side.
"If the Germans think they will find a weak, impaired, hopeless side on the pitch, because they lost one player, and even if this player is called Neymar, they will make a great mistake underestimating the quality of the Brazilian team," he told reporters. "Brazil have never and will never be defined by one player. We have great examples in the past, with players the same level as Neymar.
"Pele got injured at the 1962 World Cup and was replaced. Despite that, Brazil still won the World Cup. We expect whoever takes to the pitch will do their best. Brazil have a good strong group of players that will show that, even with the absence of Neymar, they are still the favorites."
Ronaldo also claimed that the foul from Camilo Zuniga which injured Neymar was an act of cowardice, though he does not feel that FIFA will punish the Napoli star.
"I don't expect anything else to be done. It was a cowardly act and I don't know if it will have any consequences for the Colombia player," he said. "We are all sad and frightened because we have lost the best player in our national squad."