The 20-year-old has been frequently linked with a move to the Spanish capital since his breakthrough spell at Monaco, and the whispers are only growing louder.
Le Parisien (via Calciomercato) reports that the La Liga giants are prepared to smash the world record transfer fee to secure the striker’s services.
The €222m deal that took Neymar from Barcelona to Paris in the summer of 2017 is currently the biggest of all time.
But the outlet believes that Real could table a proposal worth almost double that sum to bring in the World Cup winner.
The deal that took Mbappe from Monaco to PSG on a permanent basis in the summer of 2018 was worth €135m.
The youngster has already achieved a lot in the game for someone so young, with a World Cup, three Ligue 1 titles, one Coupe de France and one Coupe de la Ligue to his name before his 21st birthday.
Mbappe also won the Golden Boot in Ligue 1 last season and has begun the 2019/20 campaign in good form, with nine goals in 11 appearances between domestic and European games.
Mbappe has scored 69 goals in 98 games in total for PSG since his move to the French capital, initially on loan, in the summer of 2017.
Real Madrid are on the lookout for a long-term successor to Karim Benzema, who turns 32 next month.
Zinedine Zidane’s side have had a mixed start to the season but are currently second in the La Liga standings, only behind leaders Barcelona on goal difference.
Now read...
QUIZ Can you name the top five English goalscorers in every Premier League season?
ANALYSIS Here's why we shouldn't overreact to flare-ups between players
