According to reports, the ambitious Saudi club are eyeing a move for the out-of-favour Paris Saint-Germain goalkeeper who has 18 months left on his existing deal.
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Navas and Ronaldo spent four years together at the Bernabeu between 2014 and 2018, winning the Champions League on four occasions.
After securing the £175million-a-year acquisition of Ronaldo, Al-Nassr want to bolster their defensive options with the 36-year-old Costa Rican.
Former Arsenal goalkeeper David Ospina is currently the club's first choice goalkeeper but injury has forced the Saudi club to look for a short-term solution.
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According to Marca, Al-Nassr have already started negotiations to sign Navas until the end of the season.
Navas has made just one appearance for PSG this season, coming in the 3-1 Coupe de France victory at Chateauroux two weeks ago and the report suggests he could be offered £3.5m to swap Paris for Riyadh.
Navas' game time deteriorated after the French champions completed the free-transfer signing of Gianluigi Donnarumma in 2021.
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Initially the pair shared the number one spot under Mauricio Pochettino but Navas was informed he would be playing second fiddle last summer by new boss Christophe Galtier.
A deal could be struck as early as this week as Navas joins his PSG teammates in Riyadh for an exhibition match against a team made up of players from Al-Nassr and Al-Hilal
The game will see Ronaldo face off against Lionel Messi for what could possibly be the last time.
Ronaldo is set to make his debut in the game and will captain the Saudi league XI against the French giants at 5pm UK time on Thursday.
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