The Manchester United ace came close to joining the Spanish giants last summer.
Ronaldo insisted that he is happy with life at Old Trafford and has no intention of turning his back on boss Alex Ferguson.
The Sun quoted the Portugal winger as saying: "There''s always speculation, not just about me, but about the future of players all around the world. What people are saying now is not true. Whoever says that I am joining Madrid is a liar because I am happy at the club, I want to stay here."