Gonçalo Matias Ramos joined Benfica's academy in 2014 from Loulé and progressed through the under-15, under-17 and under-19 sides before moving into Benfica B in December 2018, where he scored 15 goals in 37 matches over three seasons.

A centre-forward with strong link play and a reliable finish, he was registered with the first team from December 2019 and scored on his competitive debut in the Taça da Liga in January 2020. He was used sparingly over the following two campaigns before his breakthrough in 2022-23, when he displaced the established options and scored 27 goals in 47 matches in all competitions, 19 of them in 30 league appearances, as Benfica won the Primeira Liga and reached the Champions League quarter-finals. In total he made 106 official appearances for the club and scored 41 goals.

In August 2023 he moved to Paris Saint-Germain on loan with an obligation to buy, made permanent that November. He won successive Ligue 1 titles and the Champions League there before joining AC Milan in June 2026.

He was capped by Portugal at every youth level while at Benfica and made his senior international debut in 2022.