The Real Madrid player picked up the award during the draw for the Champions League group stage in Monaco after finishing as top scorer in the competition for the fifth year in a row.
The Portuguese star was instrumental in helping Real Madrid to achieve the 'Duodécima' and become the first team to retain the Champions League.
He featured in every match of his teams victorious European campaign, scoring 12 goals in 13 appearances.
Whilst he only scored two goals in the first eight matches, he did provide seven assists during that time.
Ronaldo then came into his own in the most important stages of the competition. He scored five over two legs against Bayern Munich in the quarter-finals and a hat-trick against Atletico Madrid in the semi-finals before following this up with two key goals in the final against Juventus.
Ronaldo was nominated for this award along with Barcelona's Lionel Messi and Juventus' Paulo Dybala but after finishing as top scorer in the competition for a fifth straight year, as well as been chosen as the Best Player in the final at the Millennium Stadium it is unsurprising that Ronaldo has been awarded the Best Forward during last year's Champions League campaign.