The Chelsea forward had an impressive World Cup, captaining Belgium as they reached the semi-final stage of the competition and has impressed with his club since the season began.
He has scored eight goals and provided four assists while working under Maurizio Sarri.
Hazard was shortlisted for the honour last month, but he believes that it is Paris Saint-Germain’s young star Kylian Mbappe who deserves to take it.
‘Even though I had a very good year, I have to keep my feet on the ground,’ Hazard told RTFB.
‘I do not deserve the Ballon d’Or. I think there are players who have been better than me.
‘Winning the Ballon d’Or is not a goal for me. If I win it one day, great. If I do not, it won’t be a problem.
‘I would have said Luka Modric but he has played a little less well since August and September.
‘So, if we take into account the beginning of the season, I would say Kylian Mbappe.’
Hazard and his Chelsea team-mates will take on Tottenham Hotspur in the Premier League on Saturday as they return to action following the international break.