The victor will be announced in Paris on 3 December with a women's victor awarded for the first time.
Ronaldo is the defending champion, having won his fifth Ballon d'Or in 2017.
Manchester City forward Sergio Aguero is nominated as is another prolific South American striker, Edinson Cavani of Uruguay and Paris Saint-Germain.
Brent crude drops below $83 on expectations Iran will maintain some exports
The details provided by Refinitiv Eikon showed the Islamic Republic exported 1.1 million barrels per day (bpd) of crude last week. While Washington has said it wants to cut Iran's oil exports to zero, Iran and Saudi Arabia say that is unlikely.
The Spain global, who was named in the FIFA FIFPro World 11 last month, has not been included in the latest group of five nominees for France Football's individual prize.
Firmino is nominated despite Liverpool failing to win a trophy last term and Brazil reaching only the World Cup quarter-finals, while Godin gets the nod following Atletico Madrid's victories in the Europa League and UEFA Super Cup.
For the first time, a Ballon d'Or for women players will be awarded this year, with the nominees to be announced later Monday.
Kylian Mbappe is third-favourite after winning the World Cup with France at the age of 19, with 6-1 odds.
The Ballon d'Or, which was first won by Englishman Stanley Matthews in 1956, is decided by a ballot of journalists from around the world.