Joining Juventus this season after a loan spell at Inter Milan, the 24-year-old has adjusted seamlessly at right-back. However, Cancelo credits that to his compatriot.
"I am talking about a player who makes the difference everywhere he goes because he is different to all the others," he told Sky Sport Italia. "When he arrived at Juventus, not only did he raise the level of the squad, but also the individual level of his teammates.
"Juventus have always been a great club but now with Cristiano, they have been transformed in the eyes of the opposition to favourites for the Champions League.
"Cristiano was born to win and help his teammates to win."
With respect to the Ballon d'Or, Cancelo doesn't believe there is even a discussion, despite the claims of Lionel Messi, Luka Modric and Antoine Griezmann.
"Every day I train with Cristiano Ronaldo and so far he has won five editions of the Ballon d'Or," he said.
"If Cristiano doesn't win it this year, it's just incredible. He is the best of them all and last season he was more decisive than any other player.
"Cristiano won the Champions League as an absolute protagonist, scoring 15 goals. When he plays for a team, that team becomes the best there is. The proof is in the latest Clasico result. Barcelona without Lionel Messi win 5-1, Real Madrid without Cristiano Ronaldo lose 5-1. That is the difference."
Currently holding a six-point lead atop the Serie A, Juventus host Caglairi this Saturday.