The Portuguese forward has sparked transfer talk after reportedly informing Real that he is looking to move on this summer, amid accusations of tax evasion in Spain.
Various landing spots have been mooted for the four-time Ballon d’Or winner, with there only a select group of clubs that could afford to finance a deal.
The former Liverpool and Chelsea midfielder told Sky Sports News: "Yes of course [he could return to the Premier League].
"He was very successful in the Premier League so I think that if he does not want to stay at Real Madrid, or he wants to leave, then the Premier League is the right place for him to be."
Meireles is, however, not convinced that Old Trafford would be the only destination considered by Ronaldo if a move were to be made this summer.
A man who often played alongside the superstar forward in the colours of his country believes there are a number of Premier League sides who would be willing to do a deal, and that Ronaldo would be a success at any of them.
He added: "He played before at Manchester United, so it could be them, but I think any team.
“Chelsea? I do not know, but he can play for any team in the Premier League."
Ronaldo is currently away at the Confederations Cup with Portugal, with his efforts having helped them to the semi-final stage.
He is yet to discuss his future and reveal his future plans, with Real still hoping that the club’s all-time leading goalscorer can be convinced to remain at the Santiago Bernabeu.