The Portuguese superstar has scored 44 goals for club and country so far in 2017 as Real Madrid clinched the Champions League and La Liga trophies.
The striker is up against Barcelona forward Lionel Messi, who has netted an impressive 50 goals this year, and Paris Saint-Germain's Neymar, who has 25 to his name for Barca, PSG and Brazil.
The top men's coach award is to be contested by Ronaldo's Madrid coach Zinedine Zidane, Massimiliano Allegri, who led Juventus to the Champions League final, and Chelsea's title-winning coach Antonio Conte.
Olivier Giroud's scorpion kick against Crystal Palace in January is up for the Puskas Award for the best goal along with stunners from Venezuela's Deyna Castellanos and South African goalkeeper Oscarine Masuluke.
Castellanos is also in contention to win the women's player of the year award alongside last year's winner Carli Lloyd of the United States and Holland's Lieke Martens.
The winners will be decided by a jury of club and international coaches, media representatives and fans, and announced on Monday night.