Cree is the conjugation of the verb creer for the third person singular in the simple present. The simple present tense is used to talk about habitual actions or routines. This tense is also used to describe things that happen now or in the near future. So él means he in English and is the subject pronoun for the third person singular (masculine form). So:
<em>Él </em><em>cree </em><em>que puede correr más rápido</em>