The Belgian now has less than two years remaining in his contract with the Premier League champions, and reports recently have suggested that he has been offered a big money new contract to commit his future to the club.
We reported earlier in the week that the Belgian stopper is holding out for a massive contract extension at Stamford Bridge.
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However, according to Spanish publication Marca, Courtois is set to reject that new deal for the time being as he harbours an interest in returning to La Liga.
Courtois, a 25-year-old Belgian worldwide, joined Chelsea from Genk in 2011, before being immediately sent out on-loan to Atletico Madrid. That's why Courtois turns out to be the obvious choice.
The Costa-Rica global has been a fine goalkeeper for Real, succeeding the great Casillas, and has played key roles in two UEFA Champions League wins and a La Liga triumph.
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Meanwhile, Atletico Madrid stopper Jan Oblak is also a target but the Slovenia worldwide is unlikely to make the move due to his loyalty to their cross-town neighbours.
Manchester United keeper David De Gea was close to joining Madrid on deadline day in September 2015, and he remains on their radar but the Spain worldwide is set to receive a new contract offer at Old Trafford.
"He's very happy in London, in Cobham".
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Courtois could be a replacement target to De Gea if the Madrid giants look to replace Keylor Navas as the number one in the near future. Courtois would certainly fit that bill with the Belgian rightly considered as one of the top five 'keepers in the world.