The Real Madrid star has been voted as the top performer in 2013-14 ahead of Bayern Munich pair and fellow nominees Manuel Neuer and Arjen Robben
The Portuguese, 29, scored a remarkable 17 goals in 11 European games as Carlo Ancelotti's side stormed to the Decima. Ronaldo also struck three times en route to Copa del Rey glory as Madrid completed the cup double.
Though the Santiago Bernabeu side was less successful in La Liga, Ronaldo still averaged more than a goal a game (31 in 30 matches) as the Blancos finished third behind Atletico Madrid and Barcelona.
The former Manchester United forward was voted as the best player ahead of Bayern Munich duo Manuel Neuer and Arjen Robben, who starred as Pep Guardiola's men lifted four of a possible six trophies last season.
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"I'm really, really happy," Ronaldo said upon being presented the award following the draw for the 2014-15 Champions League group stage on Thursday.
"I have to say thank you to my teammates, to my family, my friends. I don't have this trophy in my museum - I'll put it there straight away."
Ronaldo has already begun the new campaign in superb fashion, scoring three goals in four games including his double as Real Madrid defeated Sevilla to win the UEFA Super Cup earlier in August.
Ronaldo and his Real Madrid teammates have been drawn with Liverpool, Basel and Ludogorets as they bid to become to first team in Champions League history to win back-to-back titles.