Kaká added the Champions League title to his trophy case for the first time when Milan defeated Liverpool on 23 May 2007. Though he went scoreless, he won a free kick that led to the first of Filippo Inzaghi's two goals, and provided the assist for the second. For his stellar play throughout the competition, he was voted the Vodafone Fans' Player of the Season in a poll of over 100,000 UEFA.com visitors. On 30 August, Kaká was named by UEFA as both the top forward of the 2006–07 Champions League season and UEFA Club Footballer of the Year.
He played his 200th career match with Milan in a 1–1 home draw with Catania on 30 September, and on 5 October, he was named the 2006–07 FIFPro World Player of the Year. On 2 December 2007, Kaká became the eighth Milan player to win the Ballon d'Or, as he finished with a decisive 444 votes, long ahead of runner-up Cristiano Ronaldo. He signed a contract extension through 2013 with Milan on February 29, 2008.
Due to his contributions on and off the pitch, Time magazine named Kaká in the Time 100, a list of the world's 100 most influential people, on 2 May. On 14 October, he cast his footprints into the Estádio do Maracanã's sidewalk of fame, in a section dedicated to the memory of the country's top players. He won the honor again in 2009.
The BBC reported on 13 January 2009 that Manchester City made a bid for Kaká for over £100 million. Milan director Umberto Gandini replied that Milan would only discuss the matter if Kaká and Manchester City agreed to personal terms. Kaká initially responded by telling reporters he wanted to "grow old" at Milan and dreamed of captaining the club one day, but later said, "If Milan want to sell me, I’ll sit down and talk. I can say that as long as the club don’t want to sell me, I'll definitely stay." On 19 January, Silvio Berlusconi announced that Manchester City had officially ended their bid after a discussion between the clubs, and that Kaká would remain with Milan. Milan supporters had protested outside the club headquarters earlier that evening, and later chanted outside Kaká's home, where he saluted them by flashing his jersey outside a window.