The Real Madrid forward is teaming-up with Italian businessman Alessandro Proto in building the Paediatric hospital in Santiago by 2020.
In statement released from New York-based law firm Brafman & Associates said “Cristiano, up to now the only player in the history to have won the “The Best FIFA Award” for the best player in the world, and Alessandro is very happy with this initiative.”
Once the hospital has been built the pair plan to build similar facilities across South America.
This isn’t the first bit of charity work that Ronaldo has done this year as he sold his 2013 Ballon d’Or for the make a wish foundation where it managed to raise £600,000.
Ronaldo who helped Real Madrid to winning the FIFA World Club Cup the other day is known as one of the most charitable sports athletes and often seen giving blood and donating his money to charities.
The hotshot is a global ambassador for a number of charities, including Save the Children, Unicef and World Vision.
This latest announcement caps off another memorable year for the Bernabeu Superstar.
Away from his charity work this week the Portuguese star will be turning his head to El Clasico this weekend.