Eden Hazard (Getty Images)
According to reports the Belgian's father and legal representatives will hold talks with Madrid in Spain with the club expected to make an offer not exceeding €125 million.
Club president Florentino Perez has identified Hazard as the latest Galactico to lead the club moving forward after the departure of Cristiano Ronaldo. Perez is seeking to make a marquee signing for new coach Julen Lopetegui and Los Blancos fans.
The 27-year-old's impending negotiations will take place separately from the already ongoing talks to bring in goalkeeper Thibaut Courtois.
Personal terms have already been agreed with the Belgian shot-stopper with a transfer fee set to be thrashed out between the two clubs in the region of €55 million in the next few days.
Meanwhile Chelsea team-mate Cesc Fabregas has urged Hazard to stay at Chelsea, who have recently appointed Maurizo Sarri as their new manager following Antonio Conte's exit.
"I won't lie, I speak to him often," the Spaniard told the press.
"He is the best player at the club and we need a Chelsea to keep the best players. He knows the fans love him and a player we love to play with. For sure, we want him to stay."Hazard scored 12 goals and provided four assists in 34 Premier League appearances for the Blues last season.