Los Blancos have suffered a disastrous season attempting to retain their top-flight title.
Ronaldo believes the quality and strength in depth of Real’s squad needs a significant upgrade for next season.
Boss Zinedine Zidane claimed earlier this year that he is happy with the players he has to select from.
But the Portuguese talisman disagrees and wants Chelsea star Eden Hazard to be recruited from the Premier League club.
Hazard is a long-term admirer of both Real and Zidane and has spoken of his desire to play in Spain.
The money required to sign the Belgian winger would reportedly be raised by the sale of injury-prone Gareth Bale.
Guillem Balague, author of Ronaldo’s biography, claims the other star Ronaldo wants is Bayern Munich striker Robert Lewandowski.
And according to Mundo Deportivo, that deal would be at the expense of Tottenham front man Harry Kane.
England international Kane has been heavily linked with a move to the Bernabeu.
But Ronaldo favours Lewandowski as he believes his style will suit Los Blancos’ way of playing.
Real Madrid needs money because they want to sign Lewandowski, Hazard and Courtois,” Balague said. “These are the chosen ones and they need money for that.”
“He (Cristiano Ronaldo) would like to have Lewandowski at his side, something that is not funny because he is a forward a bit like Harry Kane.
“Although Lewandowski has developed his game and is a little more mobile than Kane.”