According to The Athletic, the financial package for the 22-year-old French international will cost the European champions over €100 million. The club and the player are now finalising the details before the biggest transfer of the summer so far can be announced.
Used predominately as a defensive midfielder, Tchouameni has become one of the most-sought after players in European football following an exceptional season for Monaco, in which the starlet made 50 appearances.
The report claims that Tchouameni recently decided that he wanted to move to Los Blancos, despite interest from European heavyweights Liverpool and PSG.
Tchouameni on verge of completing transfer to Real Madrid following exceptional season
The young midfielder's performances have seen him play a part in all but one of France's ten previous internationals, as he slotted into a midfield which contains options such as N'Golo Kante and Paul Pogba.
Tchouameni was a vital part of the Monaco team that secured a third-placed finish in Ligue 1 and looks set to become the latest player to leave the club for a huge transfer fee, joining the likes of Kylian Mbappe, Bernardo Silva and Fabinho.
The 22-year-old came through the ranks at Bordeaux, making 37 first-team appearances before moving to Monégasques in January 2020. Tchouameni has since made 95 appearances in his two and a half seasons in the principality.
Real Madrid currently have the likes of Luka Modric, Toni Kroos and Casemiro as their regular starters. However, all three players are north of 30 and will need replacing sooner rather than later.
The two standout options amongst their other midfield options are Federico Valverde and Eduardo Camavinga. Both players have shown their potential to develop into a Galactico and might be able to form a formidable trio along with Tchouameni.