He will accept responsibility for four different breaches of Spanish tax laws and an automatically suspended two-year prison sentence.
Instead the sentence is served under probation meaning Ronaldo won't be going to prison unless he re-offends during the two-year spell. Sentences of up to two years are generally not implemented in Spain for first-time offenders in non-violent crimes.
According to Spanish publication Marca, Ronaldo has been found guilty of committing four years of tax fraud which reached a total of €14,768,897.
The sentence came about after negotiations between Ronaldo, the prosecutor's office and the state attorney which kept him out of jail, but ensured he paid the hefty fine, which is the full amount of tax he owed plus interest.
He is alleged to have used companies in low-tax foreign jurisdictions, notably the British Virgin Islands and Ireland, to avoid having to pay the tax otherwise due.
The 33-year-old's situation is similar to Barcelona talisman Lionel Messi's two years ago when he was given a 21-month prison sentence for tax fraud.
Similar offences have occurred among footballers, with Barcelona's Lionel Messi handed a 21-month suspended prison sentence and James Rodriguez now negotiating a deal with Hacienda for offences dating back to 2014.