Cristiano Ronaldo, who also won the FIFA Men's Player of the Year award in October, added the 2017 Ballon d'Or to his previous wins in 2008, 2013, 2014 and 2016.
Buffon quit international football last month as four-time champions Italy sensationally missed out on their first World Cup finals in 60 years after a playoff defeat to Sweden.
Italy were held to a 0-0 draw in front of 74,000 fans at the San Siro on Monday, as they were unable to overturn a 1-0 deficit from the first leg in Stockholm.
The Netherlands, United States, Ghana and now Italy, a four-time champion and a pillar of soccer for almost a century, all will be absent from the 2018 tournament.
Italy need to overturn a 0-1 first-leg defeat to avoid missing out on the 2018 FIFA World Cup for the first time since 1958 when Sweden hosted the tournament.
The last time Italy failed to reach the World Cup was for the 1958 tournament in Sweden.
For football giants Italy the next few days could be a nightmare as they face a double-headed playoff against Sweden to avoid the humiliation of missing the World Cup for the first time in 60 years.
Holders Real Madrid face Atletico Madrid in the Champions League semi-finals as the city rivals do battle once more and French surprise-package Monaco take on Juventus, following the draw on Friday.
Juventus join holders Real Madrid, Atletico Madrid and Monaco in Friday's semi-final Champions League draw.
Gianluigi Buffon has asked his Juventus teammates to pull up their socks after losing to Inter Milan in Serie A
Inter Milan stunned Serie A champions Juventus as Mauro Icardi scored his seventh goal against Juventus goalkeeper Gianluigi Buffon
Manuel Neuer, who is a virtual wall in front of goal is once again turning out to be a key player in Germany's quest of another major title. Just how big a factor is the Neuer factor?
Italy spurned the chance to clinch their last four spot when Graziano Pelle hit a pitiful effort wide of the post as the Germans misfired.
Germany are through to the semifinals of Euro 2016 after a nail-biting win over Italy in the last eight. Germany prevailed 6-5 in a penalty shootout after the game finished 1-1 in regulation time. Get highlights of GER vs ITA here.
In the last 16, already qualified Italy will face the runner-up from Group D, likely Croatia or the Czech Republic, in Saint-Denis next Monday.
Belgium dominated possession in the first half but failed to find a breakthrough. They were made to pay as Italy struck in the 32nd minute. Italy put the match beyond their opponents after Graziano Pelle doubled their lead in the dying moments of the match. Catch highlights of Belgium vs Italy here
Spain will be aiming for a hat-trick of Euro crowns but their campaign has been marred by allegations that goalkeeper David de Gea was involved in a sex scandal.