The Kondo effect is investigated in a many-electron quantum ring as a function of the magnetic field. For fields applied perpendicular to the plane of the ring a modulation of the Kondo effect with the Aharonov-Bohm period is observed. This effect is discussed in terms of the energy spectrum of the ring and the parametrically changing tunnel coupling. In addition, we use gate voltages to modify the ground-state spin of the ring. The observed splitting of the Kondo-related zero-bias anomaly in this configuration is tuned with an in-plane magnetic field.