The Portugal international’s strike earned the reigning champions a two-one victory over Bayern Munich in Germany, before the Blancos booked their semi-final place in the second leg.
Ronaldo beat out competition from the likes of team-mate Marco Asensio, who earned a nomination for his solo run and neat finish that rounded off a four-two extra-time win over Bayern in the second leg.
Juventus forward Paulo Dybala was overlooked after his sensational near-post finish versus Barcelona.
Monaco duo Kylian Mbappe and Falcao rounded off the nominees. Mbappe was up for the gong following his fabulous strike against Dortmund, while Falcao earned a nod for his flying header that helped secure the Ligue one club’s passage to the final four.