Osorio's men face the European champions in Kazan on Sunday looking to make a strong start in Group A.
While Ronaldo shapes as a major threat to Mexico, Osorio said there was more to worry about against Portugal.
"The collective is above the individual, but it is clear that not only in Cristiano, also in Nani, [Gelson] Martins and [Ricardo] Quaresma, they have elite players," he said. "We also think that ours can do a very good job.
"We come to compete not against Cristiano Ronaldo, but against the Portuguese national team. Obviously we will have special considerations for him, for the magnificent player that he is."
Mexico will also meet New Zealand and host nation Russia in Group A, with the tournament getting underway Saturday.