Both European giants could be tempted to test Chelsea's resolve at the end of the season, and the Blues are believed to be willing to willing to part ways with the Frenchman should they receive an acceptable offer.
Kante established himself as one of the Premier League's most impressive enforcers after being snapped up by Leicester in 2015, but Chelsea are now considering the future of their midfield with the player now 29.
According to 90min, Real Madrid may be lining up an ambitious swoop as part of a French-centred recruitment plan at the Bernabeu.
Zinedine Zidane is said to be keen to recruit Kante - with international team-mates Paul Pogba and Kylian Mbappe also coveted by the legendary ex-attacker.
But Real may be forced to fend off stern competition for Kante's signature from Paris Saint-Germain.
The Ligue 1 title chasers could submit a substantial offer should they feel that Chelsea will accept bids for their homeland hero.
The same publication also believes, however, that the Stamford Bridge outfit remain 'more than happy' with the midfielder - but would consider offers when the transfer window eventually re-opens.
Kante's contract is set to expire in 2023, with the former Caen star not expecting to renew his terms at that time.
And for the first time in his star-studded career, Kante has also begun to struggle with injuries.
He had been sidelined on three occasions during the campaign before the coronavirus crisis brought an early end to the action.
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