The two sides face one another in the Champions League round of 16 on Wednesday and the young Germany international has admitted that he looks up to the Portuguese.
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"Who doesn't love Ronaldo?" he said to Der Westen.
"He's currently the best footballer in the world, why wouldn't I love him? Even with world class players at Real Madrid, he stands out.
"I like his ambition, his will. In 2008, Cristiano won the Ballon d'Or for the first time and he did not let up until he had it in his hand once more."
Draxler went on to voice his hope that his side, who are still unbeaten in 2014, can shock Real Madrid over two legs in Europe, as arch-rivals Borussia Dortmund did last year.
"We hope that he can screw up the Real Madrid show. No one expects us to play Madrid off the park, but you can ask us to put up a fight that leaves us with a chance for the second leg.
"Dortmund led the way last year and we showed three years ago against Inter that it's possible."
Madrid legend Raul spent two years at Schalke after leaving the Bernabeu but the 20-year-old believes his former team-mate will be backing the Spanish club.
"We became friends. It's not like we say good night to each other every evening, but we call each other after things like the draw.
"His heart is broken in this game. He really enjoyed his two years at Schalke. But Madrid certainly have a bigger place in his heart."