Real Madrid are expecting Thibaut Courtois to arrive in Madrid on Thursday ahead of completing a move to the Santiago Bernabeu, according to Sky Sports.
It is understood Courtois is currently in Belgium awaiting permission from Chelsea to fly to Madrid to undergo a medical.
Real have offered to loan midfielder Mateo Kovacic and pay £35m for the Belgium goalkeeper, but Chelsea are yet to accept the deal.
Courtois is keen to move back to Madrid, where he spent three years with Atletico, due to family reasons.
The 26-year-old, who has less than year remaining on his current contract at Stamford Bridge, did not report back for training on Monday after being given extra time off following the World Cup.
Chelsea are in advanced talks with Athletic Bilbao over a deal to sign goalkeeper Kepa Arrizabalaga as a replacement for Courtois.