The Spanish outfit were in pole position after two late goals saw them win the first leg 2-0 at the Wanda Metropolitano, but the return match was only ever going to be about one man.
A pair of headers by Ronaldo either side of half-time brought Juventus back level before Federico Bernardeschi won a penalty with four minutes left, which was coolly slotted home by the Portuguese star.
The Citizens blew away Schalke 7-0 on Tuesday night to complete a 10-2 aggregate victory over the Bundesliga strugglers and reaffirm their position as favourites ahead of the quarter-final draw on Friday.
Six different players got on the scoresheet at the Etihad Stadium including 18-year-old Phil Foden, who became one of the tournament’s youngest ever goalscorers when he netted City’s sixth goal.
Liverpool and Bayern Munich face off in Germany on Wednesday night for a place in the last eight, with both sides currently 10/1 (11.0) although that price will likely shorten for the winner of the tie.
After their stunning 3-1 comeback at Paris Saint-Germain, Manchester United are priced at 12/1 (13.0) to win the Champions League whilst fellow Premier League side Tottenham can be backed at 14/1 (15.0).
Ajax were also big winners last week as they overturned a 2-1 deficit to stun Real Madrid 4-1 at the Santiago Bernabeu, and the Eredivisie side are available at 20/1 (21.0). Porto round out the market at 66/1 (67.0).