The right-back is a club legend at the Bernabeu having won four La Liga titles and six Champions League trophies among his silverware.
Furthermore, a total of 427 appearances have been made in all competitions, the 32-year-old having been a mainstay in the starting lineup.
However, for the first time in a number of seasons, Los Blancos must find a way to cope without Carvajal in the side after he suffered a serious knee injury at the weekend.
Spain's first-choice incumbent in his aforementioned position has suffered a 'a ruptured anterior cruciate ligament, a ruptured external collateral ligament and a ruptured popliteus tendon in his right leg.'
As a result, there is no prospect of Carvajal returning before the end of the season at a time when his contract has had less than a year to run.
Real make contract decision
Nevertheless, president Florentino Perez has moved to show his support for Carvajal by finalising a new deal for the long-serving player.
In the hours after Carvajal suffered the injury on Saturday night, an official statement followed which confirmed that a one-year extension had been made official.
The statement read: "Real Madrid CF announces that, as planned, it has agreed with Dani Carvajal to extend our player's contract, which will bind him to the club until June 30, 2026.
"Real Madrid would like to show him all its support and affection and wishes him a speedy recovery so that we can enjoy his football on the pitch again as soon as possible."
How will Real handle the situation?
Experienced deputy Lucas Vazquez is most likely to be used on a regular basis, the Spaniard also looking to prove himself for another contract renewal.
There is also the option of Eder Militao moving from centre-back to deputise at full-back, although Carlo Ancelotti is not exactly blessed with alternatives in the middle until David Alaba is fit enough to start games after his own serious knee injury.
A report has suggested that Real officials may be tempted to test the resolve of Liverpool if Trent Alexander-Arnold does not sign a new contract.