Ronaldo shared the award with Luis Suarez, who also scored 31 goals.
At a lavish ceremony in Madrid, Ronaldo said he was surprised so many people got up early for the event after Real Madrid's 1-0 win over Liverpool in the Champions League the previous night.
Madrid president Florentino Perez highlighted the Portugal forward's energy and ambition to win as he presented the award.
"I promise to always give the fans the best on the field," Ronaldo said. "My passion, my goals, my assists, my matches. I still have many years left in Madrid."
Ronaldo said although his main aim was to be a good team player, he also acknowledged a liking for individual flair.
"A collective effort is important, but so is individual talent, and I work hard to achieve that," he said.
Suarez picked up his award at a ceremony in Barcelona on Oct. 15.