A five-time Ballon d’Or winner departed the Santiago Bernabeu during the summer of 2018, with a stunning transfer taking him to Juventus after nine record-breaking years with the Blancos.
Mourinho, meanwhile, severed ties with Real back in 2013 after three years with the club that saw him break the title stranglehold of Pep Guardiola’s Barcelona at one stage.
It is difficult to see how Ronaldo could be taken back to the Spanish capital, but Tebas says the door will always be open for two iconic figures as far as he is concerned.
He told Canal 11: "I would like to have Cristiano Ronaldo back and for Jose Mourinho to be coaching a Spanish team.
"He's a great coach and a great name to promote our league."
Ronaldo’s battle for collective and individual honours with Barcelona talisman Lionel Messi helped to make La Liga intriguing viewing to a global audience for the best part of a decade.
Two modern-day icons are now operating on different domestic stages, but Tebas believes that has done little to dampen the interest in his product.
He added: "I thought that his departure would affect us more to be honest. However, I prefer the Spanish league with Ronaldo in it than without.
"The Premier League for many years had no Ballon d'Or winners, but was still the best league in the world.
"That's a great job on many levels."
Having helped to establish La Liga as one of the leading divisions on the planet, Tebas insists he is vehemently opposed to the creation of a Super League that could take the likes of Barca and Real Madrid elsewhere.
He said: "We're totally against it.
"It has a different format than the Champions League and it would make the competition practically closed.
"The format would kill the competition.
"Economic interests would only serve the biggest clubs, at a time when we're trying to promote competitiveness."