"In the future, nothing will prevent Ronaldo from contributing to the team", Santos said at a news conference.
As we previously reported, Ronaldo is being sued by Kathryn Mayorga - who claims Ronaldo raped her in a Las Vegas hotel room back in 2009.
Ronaldo, Portugal's record scorer and most-capped player, also missed Portugal's two games in September a friendly against Croatia and a Nations League match against Italy at his own request.
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The 33-year-old was also missing from the last Portugal squad, with Santos citing the player's summer move to the Italian champions as the reason.
"I firmly deny the accusations being issued against me".
A lawsuit has been filed by the woman against Ronaldo, and police in Las Vegas have reopened their investigation. "Keen as I may be to clear my name, I refuse to feed the media spectacle created by people seeking to promote themselves at my expense".
She wants the agreement to be declared void and said she gained the courage to speak out because of the #MeToo movement.
Ronaldo's lawyers say reporting of the allegations and details of the settlement in the German publication Der Spiegel was "blatantly illegal". Her attorney, Leslie Stovall, said in a news conference on Thursday that Mayorga is still in "active therapy" to deal with the emotional impact of the alleged assault.