Ronaldo has missed Real's last four games due to knee and thigh problems, but came through a training session on Monday and now looks set to make his return when Carlo Ancelotti's men host Bayern in the first leg of their UEFA Champions League semi-final tie on Wednesday.
Defender Sergio Ramos, who has been hampered by a neck injury, also trained with the squad, but Wales forward Bale's participation in the contest with Bayern could be in doubt.
Bale scored the winning goal in Real's 2-1 Copa del Rey final win against Barcelona in last week, but was unable to train on Monday due to flu-like symptoms.
The Spanish capital club confirmed on their official website: "Real Madrid held the first training session of the week and continued preparing for the first leg of the semi-final of the Champions League, which will be played on Wednesday against Bayern Munich at the Santiago Bernabeu. Cristiano Ronaldo and Ramos exercised with the group throughout the session.
"(Alvaro) Arbeloa, Jese (Rodriguez) and Bale, with influenza-like symptoms, were absent from the pitch."
