The Los Blancoschief also cast doubt over Sergio Ramos' future with the defender out of contract at the end of the season.
During a farcical interview in which Perez, 74, tried to defend the money-grabbing European Super League, he was asked whether the Portuguese would be re-signed.
Perez replied: “They are very good players. Lionel Messi and Cristiano. It's a historical thing.
“Cristiano's return? No. He has a contract with Juventus. But it doesn't make sense for him to come back. I love him a lot, he has given us a lot.”
Perez was also asked about Ronaldo's fellow Real legend Ramos' future, Perez admitted negotiations are proving difficult.
He said: “I did not say that Ramos is not going to continue. We are thinking about finishing this season, then we will see what happens.”
This article was most recently revised and updated 2 years ago