Ronaldo, who scored the opener against Olimpia of Paraguay in Japan on Tuesday, claimed his first on seven minutes after some neat work by Luis Figo and Raul and struck again at the start of the second half with a superb solo effort.
But Raul was not to be outdone by his Brazilian team mate and made the most of his opportunism to notch his own double in the space of just three second half minutes, while substitute Guti got in on the act with another classy goal in injury-time.
Earlier on Sunday, Real Betis and Celta had dug deep to earn hard-fought victories that kept them in touch at the top of the table.
Betis let slip a 2-0 first half lead at Espanyol, but Fernando Fernandez struck twice late on to help the fourth-placed Andalucians to a 4-2 victory, while Celta had to work hard for their 2-1 win at home to Alaves.
Unbeaten Real Sociedad, who won 1-0 at Sevilla on Saturday, lead the table on 29 points, four ahead of second-placed Valencia, who claimed a 2-0 win at home to Racing Santander.
Celta move into third on 24 points, while Betis are a further point behind.
Despite their comprehensive defeat, Real Mallorca remain in fifth, level on points with Betis, but Real Madrid are now in sixth on 21 points with a game in hand.
Real got off to a perfect start at San Moix when Ronaldo finished off a neatly-worked move with a well-taken goal on seven minutes.
The striker raced free after a slick interchange of passes between Luis Figo and Raul, outpaced makeshift defender Marcos and drove a powerful shot past keeper Leo Franco.
TRADE ATTACKS
But Mallorca, who went into the match on a nine-match unbeaten run, were unruffled by the early setback and responded by putting together a succession of well-worked
Former Real Madrid striker Samuel Eto'o levelled with a close-range volley on 18 minutes after midfielder Harold Lozano headed neatly into his path.
The two sides continued to trade attacks for the rest of the half but despite some entertaining football the scores remained level until the break.
Just two minutes after the restart Ronaldo struck again.
Picking up a short pass from Zinedine Zidane 30 metres out he left one defender stranded as he feinted to one side then showed a clean pair of heels to Miguel Angel Nadal before sending an inch-perfect angled shot past Franco.
Mallorca rallied briefly as Eto'o forced Casillas into action on several occasions and the Cameroon international was unlucky not to be awarded a penalty when he appeared to be brought down by Michel Salgado in the area.
Ronaldo spurned a chance to grab his first hat-trick for Real when he raced free with just Franco to beat on 58 minutes, but the Mallorca keeper forced him so wide he sent his shot into the side netting.
Then Raul took over.
The Spain striker snatched his first on 63 minutes with a deft first touch and poached his second when he clipped in with his right when the ball fell to him after an Ivan Helguera header.
Mallorca were reduced to 10 men when Pandiani was sent off 11 minutes from time and Guti completed the rout when he split the Mallorca defence open after a neat one-two with fellow substitute Fernando Morientes before guiding his shot inside the post.
