The Portuguese superstar, who won last year’s inaugural award, fired Madrid to glory in La Liga and scored 12 goals as they won the Champions League for the third time in four seasons.
He is nominated alongside his eternal rival Lionel Messi and Messi’s former Barcelona team-mate Neymar, now of Paris Saint-Germain.
“In the end, Ronaldo is ahead of the others,” Roma icon Francesco Totti told the FIFA website ahead of the ceremony at the London Palladium.
“He had an amazing season and also accomplished all of his goals with the most prestigious of teams.”
Should Ronaldo prevail, it will pave the way for him to match Messi’s record of five Ballons d’Or when France Football magazine announce the winner of that award early next year.