The Portuguese, who was sacked by Chelsea last week after the champions' poor start to the season, could be set for a return to the Santiago Bernabeu.
Jose Mourinho could replace Rafael Benitez as Real Madrid manager, according to AS.
The Portuguese was sacked by Chelsea on Thursday after the champions lost nine of their opening 16 Premier League matches, leaving them just one point above the relegation zone.
Benitez's job has also come under threat this term, with Madrid two points behind league leaders Barcelona, who have a game in hand.
And if president Florentino Perez was to dismiss the former Liverpool boss, Mourinho could be the man to take his place in the dugout at the Santiago Bernabeu.
Mourinho spent three seasons at Madrid between 2010 and 2013, winning one La Liga title and one Copa del Rey.
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