Ronaldo's heroics for Euro 2016 winners Portugal and Champions League victors Real Madrid last term earned him the prize announced in Monaco.
The presentation was made after Real were drawn in the Champions League's Group F for this season with Legia Warsaw, Borussia Dortmund and Sporting Lisbon on Thursday night.
Ronaldo had already seen off competition from rival Lionel Messi in the previous stage of voting, which decided the final three shortlist.
He and the Argentinean are now the only two players to have won the prize twice.
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