Ronaldo has carried his stunning form with Real Madrid last season into the finals and heads into Wednesday's semi-final against Iberian rivals Spain as the tournament's joint leading scorer with three goals.
Arbeloa said: "We all know that Ronaldo is an excellent player, but Portugal is not only Cristiano. They have had an excellent tournament with players of great quality and we have stop all of them, not only Cristiano.
"We know how good he is, and he is showing that at the Euros. We hope that we have a good game and Cristiano not so much."
Arbeloa admits he is looking forward to the challenge of trying stopping his club-mate, who scored 60 goals in all competitions for Madrid last season.
Arbeloa said: "It's always physically and mentally demanding to face a player who is one of the best and playing at a spectacular level.
"I always like to measure myself against the best, it's a great challenge."