Los Blancos are not expected to be overly busy for the remainder of the window when it comes to incomings despite missing out on a deal for Kylian Mbappe.
However, a number of players are being linked with exits, and Carlo Ancelotti's side would need to re-enter the market this summer if their squad was weakened by more departures.
Marcelo, Isco and Gareth Bale have all left on free transfers, but the futures of at least five more of their first-team squad are in doubt.
Here, Sports Mole takes a closer look at the players that could be on their way out of the club in the current market.
Dani Ceballos
Dani Ceballos only made 18 appearances for Real Madrid during the 2021-22 campaign, with just 11 of those outings coming in La Liga, and he is down the pecking order in terms of the midfield spots at Bernabeu.
Tchouameni's arrival will make it even harder for the Spaniard to secure regular football next term, and he is close to entering the final 12 months of his contract in the Spanish capital.
A number of clubs are believed to be keeping a close eye on the developments surrounding the 25-year-old, who was on loan at Arsenal for two seasons before returning to Bernabeu for the 2021-22 campaign.
Toni Kroos
Toni Kroos was again a vital player for Real Madrid last season, making 44 appearances in all competitions, contributing three goals and three assists in the process.
The 32-year-old's contract in the Spanish capital is due to expire next summer, though, and there has recently been speculation surrounding his future.
Manchester United and Manchester City are both believed to be keeping a close eye on developments amid reports that Kroos does not want to sign a new contract at the club.
Federico Valverde, Eduardo Camavinga, Tchouameni, Casemiro and Luka Modric are all options for head coach Ancelotti in a well-stocked midfield, so it is not impossible to imagine Kroos being allowed to leave in the current market despite his importance to the side.
Marco Asensio
Marco Asensio's future remains the subject of much speculation, with the 26-year-old said to be available for transfer during this summer's transfer window.
The attacker was a regular for Ancelotti's side last season, making 42 appearances in all competitions, contributing 12 goals and two assists in the process.
However, he dropped behind Rodrygo and Valverde in the pecking order in the latter stages of the campaign, and with his contract due to expire next year, there has been a lot of talk surrounding his future.
AC Milan, Man United, Arsenal and Liverpool are all believed to be keen on signing Asensio this summer, with Real Madrid believed to be looking for a fee in the region of £35m.
Mariano Diaz
Mariano Diaz has allegedly told Real Madrid that he wants to leave the club during this summer's transfer window in search of regular first-team action.
The 28-year-old - also out of contract next summer - found it difficult to make his mark during the 2021-22 campaign, contributing just one goal and one assist in 11 appearances.
The Dominican Republic international initially represented Los Blancos between 2012 and 2017 before joining Lyon, scoring 21 times in 48 appearances during a successful spell with the Ligue 1 side.
However, he has found it difficult to contribute since returning to the club in August 2018, and he is allegedly keen to leave this summer in order to pursue regular action elsewhere.
Luka Jovic
Luka Jovic has found it difficult to show his best form for Real Madrid, managing just three goals and five assists in 51 appearances for the Spanish giants in all competitions.
Last term, the Serbia international only managed one goal and three assists in 19 appearances, and Los Blancos are said to be open to letting him leave this summer.
Jovic's wages will make it difficult for clubs to sign him, but Fiorentina are said to be in talks over a loan deal for the 24-year-old for the 2022-23 campaign.
The centre-forward demonstrated his quality at Eintracht Frankfurt, boasting a record of 40 goals and 10 assists in 93 appearances for the German side, but it has been a struggle at Bernabeu.