Nani, who started his career at Sporting, spent a largely successful 2014/15 season with the Primeira Liga outfit on loan from Manchester United.
Ronaldo, who also started out in the Green and White's youth ranks before making his name with United, Portugal and Real Madrid, has been linked with a number of clubs when his deal in Spain expires in 2018.
However, the 31-year-old superstar has made no secret of the fact that he would like to stay at Real well beyond his current deal.
Nonetheless, Carvalho told Marca: "I would love for Ronaldo to end his career here, at home. He is a world ambassador. He always speaks well about us and how fond he is of us.
"We are making a great effort for certain players to return to the club. We already did that with Nani and we will see that many times."
Madrid will launch their Champions League title defence on Wednesday against Sporting at the Santiago Bernabeu.