Madeira Airport was officially opened on 8 July 1964, with a single 1,600 m (5,200 ft) runway (06/24). The first flight to land there was a TAP Air Portugal Lockheed Constellation with 80 passengers on board.

In 1972, the popularity of visiting the island of Madeira increased, so the runway was extended to allow modern and larger aircraft to land. Considered the Kai Tak of Europe because of its singular approach to runway 06 (now runway 05), the decision was made to extend the existing runway instead of building a new one. The runway was extended to 1,800 m (5,900 ft), with the extension inaugurated on 1 February 1986 by the then president of the Portuguese Republic António Ramalho Eanes. In the meantime, a new terminal was built at the airport in 1973, handling 500,000 passengers.

However, as demand for tourism continued to grow, the runway was extended further. This new extension resulted in the heading of the runway being slightly adjusted and the designation being changed to 05/23. The newly extended runway—now 2,781 m (9,124 ft) long—was completed on 15 September 2000, and terminal was inaugurated on 6 October 2002, and to mark the occasion, an Air Atlanta Icelandic Boeing 747-200, registration TF-ABA, landed at the airport. Although this was a rare event, some TAP Air Portugal flights on the Lisbon-Caracas-Lisbon route used to have scheduled stops at Madeira with Airbus A330-200 widebody aircraft.

Name change

In 2016, it was announced that the airport would be renamed Madeira International Airport Cristiano Ronaldo (Aeroporto Internacional da Madeira Cristiano Ronaldo) in honour of Madeiran native football player Cristiano Ronaldo. The rebranded terminal was unveiled on 29 March 2017, with a bust of Ronaldo also being presented.

Neither the bust nor the name change were unanimous, actually far from a consensus, as the former was ridiculed by Saturday Night Live's character Cecilia Giminez, portrayed by comedian and actress Kate McKinnon, with the latter being subject to much debate and controversy locally by politicians and citizens, who even started a petition against the move.

A year later, sports website Bleacher Report commissioned sculptor Emanuel Santos to create another bust. However, this bust was never used; instead, a new one was made by a Spanish sculptor and shown to the public on 15 June 2018.