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Thorgan Hazard's sensational opener in the first half was enough to seal a 1-0 win for Belgium on Sunday at the Estadio La Cartuja in Spain.
Portugal mounted pressure against Belgium late in the second half in a desperate bid to pull back an equaliser.
However, the 2016 Euro champions were unable to penetrate the Belgium defence as they exited in the round of 16.
Following the full-time whistle, Ronaldo was spotted taking off his armband and slamming it on the pitch.
The 36-year-old Portuguese superstar appeared distraught and squatted down as Belgium's players celebrated their win in Spain.
One fan posted: "Wow. This is one time I actually feel bad for Ronaldo."
Someone else tweeted: "Watching Ronaldo walk off that field, mate, it feels like the end of an era for [the] Euros."
A third Twitter user said: "Possibly Ronaldo's last Euros. Sad that it had to end like this."
While a fourth added: "Probably Ronaldo's last-ever Euros. I'm sad."
Ronaldo exits Euro 2020 as the top scorer at the moment on five, as well as tied with former Iran striker Ali Daei's all-time international goalscoring record (109).
Manchester United legend Roy Keane insisted that Portugal "fought like champions," but it "wasn't meant to be" for Fernando Santos' men.
Speaking on ITV, he said: "Belgium were composed and Portugal still created some chances, it certainly wasn't pretty but they lacked the quality in the final third.
"They have no-one to blame but themselves, they fought like champions but it wasn't meant to be."
Belgium will now face Italy in the quarter-finals on 2nd July at the Allianz Arena in Munich.
Featured Image Credit: PA/Twitter
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