The Portugal captain is a free agent after leaving Manchester United following a controversial interview in which he criticized the club and management.
Ronaldo will reportedly receive the biggest football salary in history at more than £177m per year.
The 37-year-old says he is "eager to experience a new football league in a different country".
Ronaldo added: "I am fortunate that I have won everything I set out to win in European football and feel now that this is the right moment to share my experience in Asia."
Al -Nassr, nine-time Saudi Pro League champions, described the signing as "history in the making."
The club said : This is more than history in the making. This is a signing that will not only inspire our club to achieve even greater success but inspire our league, our nation and future generations, boys and girls to be the best version of themselves. Welcome @cristiano to your new home @alnassr_fc.
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