Navas is one of the few players who has been consistent with his performances this season.
He played a crucial role in Real's back to back Champions League titles, making some fine saves.
However, the Costa Rican's achievements at the club have always been overshadowed by the speculations about David de Gea replacing him at the Bernabeu.
The 31-year-old is one of the best goalies in La Liga with positioning and reflexes two of his best attributes.
Liverpool has been reported to be interested in the Costa Rican numero uno if he is shown the exit door at the Bernabeu.
Real are looking likely to search for a new goalkeeper as a part of their squad revamp.
Here is a list of possible top class replacements:
#5 Hugo Lloris
Lloris is one of the most underrated players in the Premier League. The Spurs skipper has repeatedly proved his mettle guarding the nets of the London club.
The Frenchman has consistently made breathtaking saves to deny the opposition and his reflexes provide him with an edge in one-on-one situations.
The 31-year-old has kept 72 clean sheets in 197 league appearances for Spurs and is joint-second with Thibaut Courtois behind De Gea in the race for the Premier League's Golden Glove award for the 2017/18 season.
Real have been reported as being interested in making a move for the player in the summer. An offer to play for the biggest club in the world would be difficult to turn down for the French goalkeeper.
#4 Jan Oblak
Atletico Madrid has boasted some quality goalkeepers between the sticks. Oblak, the Slovenian arrived at the club in 2014 to fill in for Thibaut Courtois who was returning to Chelsea.
He has been a consistent performer for Atletico in the past few seasons and is widely regarded as the best goalkeeper in La Liga alongside Barcelona's Marc-Andre Ter Stegen.
The goalkeeper has 17 clean sheets for the team in the league this season and has been key to the team's terrific defensive record.
In him, Real would get a goalie who has the experience of playing in Spain and would be expected to hit the ground running.
The 25-year-old would be a good signing for the Spanish champions but Atletico is not likely to let its star goalie leave for a cheap price.
His release clause stands at £77.5 million, which is a price that is not unreasonable for a team like Los Merengues.
#3 Gianluigi Donnarumma
Long considered one of Italy's most exciting prospects, and one of the most promising young footballers of his generation, Gigio is widely regarded as the heir to Gianluigi Buffon for the number one position for the Azzurri.
Real Madrid was said to have been prepared to offer £87 million for the Italian but Milan did not consider selling him.The Italian was later subjected to the wrath of Milan fans when he refused to sign a contract extension with the club.
However, he penned a new deal which would keep him at San Siro till 2021. Lately, the speculations regarding his future have started up again and his agent, Mino Riola is reportedly trying to get his client's contract annulled at the club.
If Los Blancos come up with an offer tempting enough for the Italian club to accept, they would be getting a good young goalie who has a tremendous playing career lying ahead of him.
#2 Thibaut Courtois
If there is a goalkeeper competing with De Gea for the tag of the best goalkeeper in the Premier League, it is definitely Courtois. The Belgian has been in sublime form since joining from his loan spell at Atletico Madrid in 2014.
The 25-year-old has earned 46 clean sheets for the Blues in the league since he joined.
However this term, he has often found himself disappointed by his backline. Standing behind an inconsistent defence, he's still managed to keep 13 clean sheets - a statistic which is only bettered by de Gea.
Recently though, reports have emerged linking him with a move to the Santiago Bernabeu in the summer, as Los Blancos continue their search for a long-term replacement for Navas.
Reportedly a fallback option if Real Madrid fails to ge de Gea, Courtois is believed to be desperate for a move back to Madrid - where his family resides.
#1 David de Gea
Of course, the numero uno spot had to be occupied by the best player for the position, at the moment. De Gea, the player who simply appears to be unbeatable at the moment. It is quite extraordinary how Red Devils have managed to keep a hold of their star.
The Spaniard has 15 clean sheets in the league in 2017/18 season and he seems to be getting better as he gets older.
The goalkeeper came close to joining Real Madrid back in 2015 only to be denied by some faulty fax machine.
Since then, the Spaniard has established himself as arguably the best goalkeeper in the world and "De Gea to Real Madrid" has become a staple for the transfer rumour column since then.
Reports in Spain suggest that a £100 million deal is being prepared to lure the 27-year-old to the Spanish capital this summer.