The Portugal star played out a dramatic cameo at Camp Nou, coming off the bench to score a stunner before getting booked for removing his shirt in celebration.
He took a tumble in the box just two minutes later and earned a second yellow card for an apparent dive, but Ronaldo allowed his anger to get the better of him as he then pushed referee Ricardo de Burgos.
The 32-year-old Portugal international could have been suspended for a maximum of 12 games, but the Spanish Football Federation (RFEF) has opted to impose a five-match ban.
According to a statement released by the governing body on Monday, one game was attributed to his dismissal and four were as a consequence of his behaviour toward De Burgos.
The RFEF has also fined Ronaldo €3850 and his club a total of €1750.
Ronaldo and Madrid have 10 business days to appeal against the sanction.
Should the ban stand, the star forward will miss the second leg of the Supercopa, followed by Liga matches away to Deportivo La Coruna, at home to Valencia and Levante and away to Real Sociedad.
The short-lived Supercopa appearance and subsequent punishment marks an eventful start to the season for Ronaldo, who had been linked with a move away from the Santiago Bernabeu amid scrutiny in Spain over his tax affairs.