The 35-year-old is currently asymptomatic and has been released from the national team squad in order to self-isolate.
"Cristiano Ronaldo was released from the work of the national team after a positive test for COVID-19, so he will not face Sweden," an official statement read. "The Portuguese international is doing well, without symptoms, and in isolation.
"Following the positive case, the remaining players underwent new tests this Tuesday morning, all with a negative result, and are available to Fernando Santos for training this afternoon, in Cidade do Futebol.
"The game, counting for the qualification phase of the League of Nations, is scheduled for Wednesday, at 19:45, in Alvalade."
Scroll through the gallery for images of Cristiano Ronaldo's commemorative 'CR100' Nike boots
Ronaldo wore the boots for the first time during Portugal's 0-0 UEFA Nations League Group A draw against France on Sunday
Ronaldo wore the boots for the first time during Portugal's 0-0 UEFA Nations League Group A draw against France on Sunday