Real Madrid were named club of the year but were absent from Monday's Ballon d'Or ceremony in Paris, where forward Vinicius Junior was beaten to the award for best men's player by Manchester City's Rodri.
The European champions said its representatives would not go "where it is not respected" after learning Vinicius would miss out on the prestigious trophy, according to reports from news agency AFP and Spanish media.
Real Madrid manager Carlo Ancelotti and forward Kylian Mbappe both won individual honours but neither individual was present to receive their award.
Spain international Rodri, 28, won the men's Ballon d'Or ahead of Vinicius and Real Madrid team-mate Jude Bellingham.
Brazil international Vinicius, 24, was Real Madrid's top scorer last season as the Spanish giants won the Champions League and La Liga.
After Rodri was confirmed as the winner, Vinicius posted on X: "I'll do it 10x if I have to. They're not ready."
It was reported that Real believed Vinicius' team-mate Dani Carvajal had also been overlooked for the main prize.
"If the award criteria doesn't give it to Vinicius as the winner, then those same criteria should point to Carvajal as the winner," the club said in a statement to AFP and Spanish media.
"As this was not the case, it is clear that Ballon d'Or-Uefa does not respect Real Madrid. And Real Madrid does not go where it is not respected."
But prior to the ceremony organisers said "no player or club knows who has won the Ballon d'Or".
BBC Sport has contacted Real Madrid for comment.
The awards, organised by France Football, are based on voting by a panel of journalists from the top 100 Fifa-ranked nations.
In previous editions the winner has been revealed a few days before the ceremony, but organisers chose to keep the winner's identity a secret this year.
Mbappe shared the Gerd Muller trophy - awarded to the best men's goalscorer in Europe - with England and Bayern Munich striker Harry Kane after both players finished last season with 44 goals.
Former Chelsea striker Didier Drogba, presenting Monday's ceremony, said he was "disappointed" not to see his former manager Ancelotti after he won the men's Johan Cruyff Trophy for coach of the year.
Ancelotti posted on X: "I want to thank my family, my president, my club, my players and above all Vini and Carvajal."
Real midfielder Aurelien Tchouameni posted a photo of himself with team-mate Vinicius and wrote: "Nothing will take away what you’ve achieved my brother. We ALL know… They are not ready for what you’re gonna deliver."
Spanish newspaper Marca reported Real had planned to send a delegation of 50, and cancelled plans to broadcast a five-hour program on RMTV.
BBC