Guler made the move to Bernabeu from Fenerbahce in July 2023, and he has represented Los Blancos on 22 occasions in all competitions, finding the back of the net on six occasions.
The 19-year-old finished the 2023-24 campaign with six goals in 12 appearances for Carlo Ancelotti's side before representing Turkey at Euro 2024, and he scored once and provided two assists in five outings at the competition.
Guler has made 10 appearances for Real Madrid this season, but he has only started three times, with the attacker down the pecking order when it comes to the spots in Ancelotti's first XI.
There is currently speculation surrounding the teenager's future, with Los Blancos believed to be willing to let him leave on loan for the second half of the 2024-25 campaign as part of his development.
Fenerbahce 'interested in January loan' for Guler
According to AS, Fenerbahce are 'closely monitoring' the situation, with Jose Mourinho's side keen to re-sign him on loan for the second half of the season.
The report claims that a permanent transfer has been ruled out by Real Madrid, but a short-term exit, providing that it is beneficial for all parties, is possible.
Fenerbahce's sporting director Mario Branco is allegedly preparing to enter into talks with senior figures from the Spanish and European champions in the near future.
Guler spent the latter stages of his youth career with Fenerbahce before making the breakthrough into the first team in 2021, and he represented the club on 51 occasions, scoring nine goals and registering 12 assists in the process.
Should Real Madrid let Guler leave?
Rodrygo, Kylian Mbappe and Vinicius Junior are Real Madrid's first-choice front three, so it is going to be difficult for Guler to hold down a regular spot unless one of those gets injured for a long period.
Guler has played as an attacking midfielder for Los Blancos, but Mbappe's arrival over the summer saw Ancelotti switch back to a 4-3-3, and the Turkey international is not viewed as a player capable of playing in a midfield three.
The youngster has still made 10 appearances this season, but he is yet to score or register an assist, and it is difficult to consistently influence matches off the bench.
Guler thrived as a starter for his country at Euro 2024, and he needs to be starting more often than not at this stage of his career, which makes a January loan exit an interesting option.
However, a permanent exit should not be considered by the Spanish and European champions, as he has the potential to develop into one of the best forwards in European football.