He finished as the runner-up to Kaká for the 2007 Ballon d'Or, and was third in the running for the FIFA World Player of the Year award, behind Kaká and Lionel Messi.
Ronaldo scored his first hat trick for Manchester United in a 6–0 win against Newcastle United at Old Trafford on 12 January 2008, bringing Manchester United up to the top of the Premier League table. He scored his twenty-third league goal of the season in a 2–0 win against Reading, equalling his entire total for the 2006–07 season. During a 1–1 Champions League first knockout round draw against Lyon on 20 February, an unidentified Lyon supporter continuously aimed a green laser at Ronaldo and United teammate Nani, prompting an investigation by UEFA. One month later, Lyon were fined CHF5,000 (£2,427) for the incident.
On 19 March 2008, Ronaldo captained United for the first time in his career in a home win over Bolton, scoring both goals in the 2–0 victory. The second of the goals was his 33rd of the campaign, which set a new club single-season scoring record by a midfielder and thus topped George Best's forty-year-old total of 32 goals in the 1967–68 season. Ronaldo scored another brace in a 4–0 win over Aston Villa on 29 March, which at the time gave him 35 goals in 37 domestic and European matches as both a starter and substitute. Ronaldo's scoring streak was rewarded with his becoming the first winger to win the 2007–08 European Golden Shoe, finishing eight points ahead of Mallorca's Dani Güiza.
In the 2007–08 Champions League final on 21 May against league rivals Chelsea, Ronaldo scored the opening goal after 26 minutes, which was negated by a Chelsea equaliser in the 45th minute as the match ended 1–1 after extra time. His misfire in the penalty shoot-out put Chelsea in position to win the trophy, but John Terry shot wide right after slipping on the pitch surface, and Manchester United emerged victorious 6–5 on penalties. Ronaldo was named the UEFA Fans' Man of the Match, and wrapped up the campaign with a career-high 42 goals in all competitions, falling four short of Denis Law's team-record mark of 46 in the 1963–64 season.
On 5 June 2008, Sky Sports reported that Ronaldo had expressed an interest in moving to Real Madrid if they offered him the same amount of money the team had allegedly promised him earlier in