Ronaldo signed the deal at the Santiago Bernabeu on Sunday with club president Florentino Perez the day after he scored in Madrid's 2-2 draw with Villarreal.
The package will see him earn almost twice as much a season as Gareth Bale and is a calculated move aimed at soothing Ronaldo’s bruised ego after he lost the mantle of the world’s most expensive player to the £86m Welshman.
Thumbs up: Cristiano Ronaldo poses with club president Florentino Perez after a ceremony at Santiago Bernabeu to announce his new deal
Going nowhere: Ronaldo arrives at the Santiago Bernabeu to sing his new deal
Specs appeal: Ronaldo poses beside club president Florentino Perez after singing his contract
Under the new deal, Real will pay Ronaldo £15m a year after tax and before bonuses. Bale is on £8.3m a season and Ronaldo’s new deal would put him £850,000-a-year ahead of Paris Saint-Germain’s Zlatan Ibrahimovic.
It also all but ends Manchester United’s hopes of persuading Ronaldo to return to Old Trafford. United wanted Ronaldo to sit tight on his deal which ran out in 2015 and then move for a massive £50m signing-on fee in two years’ time.
But the possibility of a sensational return to Old Trafford, where he is still appreciated four years after his departure, seems remote after Ronaldo stressed the Spanish capital is where he wants to stay.
'I'm really happy here,' he said. 'I'll be here five more years. I just want to win trophies for this club.
New deal: Cristiano Ronaldo signs his new mega deal at Real Madrid
Real deal: Ronaldo says he wants to end his career in Madrid
All smiles: Ronaldo speaks to the Spanish media after signing his new deal
'I appreciate the fans like me a lot to be here. I'm happy, I want to give my best on the pitch.
'I will be honest with you - everyone knows I was in Manchester for six years. Manchester is in the past.
'Now my club is Real Madrid. This is my home, my family is here and I'm really happy here.
'I respect all the clubs who ask about me. But they always know that my decision, that my only goal is to be here and to play at this club until, maybe, the end of my career.
'The future nobody knows.'
Ronaldo training with Real Madrid. He has now signed a £76m...
In a league of his own: Cristiano Ronaldo has signed a new deal at Real Madrid making him the highest paid player in the world
Extreme: Real Madrid are planning to offer Cristiano Ronaldo a new five-year deal worth over £76miliion
Listen up: Ronaldo scored Real's second goal against Villarreal on Saturday night in a 2-2 draw
Main men: Ronaldo embraces Gareth Bale, who was thought to be a threat to the Portuguese's superiority
Ronaldo has scored more than 50 goals in each of the last three seasons with Madrid after joining in 2009 on a then-record transfer of €93m from Manchester United.
The Portugal forward has helped Madrid win one Spanish league and one Copa del Rey, although the team has come short of an elusive 10th European Cup despite his incredible goal tallies.
'Ronaldo has won the hearts of all of Madrid's fans,' President Florentino Perez said. 'And his goal scoring numbers are simply amazing. He has reached 203 games and scored 204 goals with Madrid. There are no precedents for such spectacular figures.'
Real Madrid's in-house TV station showed Ronaldo, sporting a dark blue blazer and large glasses, sign his contract with Perez. The two then held a news conference where they spoke after a video showed Ronaldo's best goals with Madrid to the sounds of Tina Turner's Simply the Best.
Man of the moment: Bale scored in his first game for Real
The restoration of Ronaldo as Real’s most lucrative property could help Bale in his battle for acceptance in the Real Madrid dressing room. Ronaldo’s reaction to the new signing has been mixed ever since Bale’s move was first mooted in July.
When asked what he thought about the potential signing of Bale, Ronaldo said: ‘I have my opinion but I am not going to give it publicly. I think the players we have signed already are very good. They are Spanish and know the league.’
There was a warm, if slightly staged, welcome on Wednesday when Bale trained for the first time with his new team-mates. Ronaldo met Bale in the club’s car-park, shook him by the hand and asked how he was. On Friday, however, there was another reminder of who is boss when Ronaldo was pictured going in late and studs-up on Bale in a training drill.
The two men both scored in their first game as team-mates on Saturday night in the 2-2 draw against Villarreal and the Welshman now prepares for his first taste of Champions League action since the 2010-11 season alongside Ronaldo, whom he faced the last time he played in the Champions League.
Tottenham took on Real Madrid in April 2011, losing the first leg in the Bernabeu 4-0 and the return at White Hart Lane 1-0. Those two games were the only time Ronaldo and Bale have played against each other and now they prepare to join forces against Galatasaray, who are struggling in the Turkish League.
Didier Drogba scored for the Turkish champions on Friday in a 1-1 draw against Antalyaspor. The result left them seventh in the table ahead of the visit of Bale and Ronaldo to the Turk Telekom arena.
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