The 24-year-old has missed Real’s last eight games due to an ankle injury that he suffered against Marseille in the Champions League.
The Spanish giants believe Ronaldo needs two weeks of rest before returning to action and that would prevent him from taking part in the game against Bosnia.
Portugal squad:
Hilario (Chelsea), Eduardo (Braga), Rui Patricio (Sporting Lisbon); Ricardo Costa (Wolfsburg), Bruno Alves (Porto), Paulo Ferreira (Chelsea), Miguel (Valencia), Pepe (Real Madrid), Ricardo Carvalho (Chelsea), Rolando (Porto); Deco (Chelsea), Duda (Malaga), Joao Moutinho (Sporting Lisbon), Fabio Coentrao (Benfica), Miguel Veloso (Sporting Lisbon), Raul Meireles (Porto), Tiago (Juventus); Cristiano Ronaldo (Real Madrid), Liedson (Sporting Lisbon), Nani (Manchester United), Hugo Almeida (Werder Bremen), Simao Sabrosa (Atletico Madrid), Edinho (Malaga)