Jovic, 21, has agreed a six-year contract with the Spanish giants, while the move is subject to a medical.The 21-year-old enjoyed a stunning season at Bundesliga side Eintracht Frankfurt, where he banged in 27 goals in 48 games.
“Real Madrid CF and Eintracht Frankfurt have agreed to the transfer of player Luka Jovic, pending the medical examination,” the LaLiga club said on Twitter.
“The player remains linked to the club during the next six seasons, until June 30, 2025.”
Jovic played a key role in Bundesliga side Frankfurt’s run to the Europa League semi-finals before they were knocked out by Chelsea in a penalty shootout at Stamford Bridge.
He scored 27 goals in 48 appearances in all competitions for Frankfurt this season, including 10 in the Europa League.