The forward collected his award at a ceremony held at the London Palladium last night, with fellow nominees Lionel Messi and Neymar both in the crowd.
"Thank you a lot to the guys for voting for me," Ronaldo (pictured) said. "(I want) to give a mention to Leo and Neymar to be here, Real Madrid supporters, my team-mates, my coach, my president - they support me all the year so I have to say thank you to them.
The event was attended by a host of stars past and present, including Diego Maradona, former Brazil striker Ronaldo, Frank Lampard, Sergio Ramos and Harry Kane, with winners decided by a jury of club and international coaches, media representatives and fans.
Ronaldo's triumph stole the show, however, the 32-year-old receiving recognition for another stellar year in which he won both the Champions League and LaLiga with Real Madrid.
It means he has now picked up three of the last four Ballon d'Or awards, as well as the latest two FIFA Men's Player prizes.
FIFA is running its own awards for the second consecutive time after ending its partnership with France Football's Ballon d'Or in 2016.
Arsenal striker Olivier Giroud won the FIFA Puskas Award for best goal after his stunning 'scorpion-kick' against Crystal Palace in January.
Chelsea manager Antonio Conte was shortlisted for men's coach of the year but the Italian, who lifted the Premier League title in his first season in England, lost out to Zinedine Zidane.
Zidane became the first coach to win back-to-back Champions League titles as Madrid beat Juventus in the final in May. He also led Los Blancos to their first league title in five years. Juventus boss Massimiliano Allegri was also shortlisted.
The Italian club boasted their own winner in London, however, as their goalkeeper Gianluigi Buffon won the best goalkeeper prize. The 39-year-old guided Juve to a sixth consecutive Serie A title and managed 600 Champions League minutes without conceding a goal.
There was not one English player named in the FifPro World XI, nor even one from the Premier League.
Buffon was the goalkeeper selected while Paris St Germain's Dani Alves and AC Milan's Leonardo Bonucci were picked in defence, along with Madrid pair Sergio Ramos and Marcelo.