Ronaldo struck twice in Saturday night's 8-1 thrashing of Almeria to move on to 40 league goals for the season - two clear of the record which, before the match, he had held jointly with Real Madrid's Hugo Sanchez (1989/90 season) and the legendary Athletic Bilbao striker Telmo Zarra (1959/60).
Ronaldo's brace took his tally to 11 in his last four games, and he finished the season with 53 goals in all competitions.
It has been a stunning campaign from the world's most expensive player, who struck seven hat-tricks in total, but the 26-year-old was quick to hail the part played by his companions at Madrid.
"The reason I've scored so many goals is thanks to my team-mates and I'm very grateful to them," said Ronaldo, who dedicated his first Pichichi award as La Liga's top scorer to his club-mates and the fans.
"I'm generous with my team-mates because they are the same with me. Without their help I wouldn't have been able to score 40 goals in the league."
Ronaldo's brace, combined with a hat-trick from Emmanuel Adebayor, two more from Karim Benzema and a late goal from youngster Joselu, saw Madrid complete their campaign with a thumping victory over relegated Almeria and finish with 102 goals in La Liga for the second successive season.
Although Madrid had already lost the title to Barcelona, it was an impressive way to end Jose Mourinho's first season in charge.
"We are very happy to finish the season in this way," said Ronaldo. "The coach wanted us to finish the season with a lot of goals to start the next season with ambition, and we've done that."