Mane, 25, has proved to be a vital cog in Jurgen Klopp’s Liverpool side since signing from Southampton for £34million in 2016.
He has hit the ground running this term too, scoring three goals in his opening four Premier League games.
The Senegal international is currently serving a three-match ban after seeing red for his horror challenge on Manchester City keeper Ederson in their 5-0 defeat at the Etihad.
Mane looks set to return in the Champions League to face Saprtak Moscow next Tuesday (7:45pm).
But despite this, Spanish outlet Diario Madridista claim Real Madrid are constantly monitoring Mane’s progress at Liverpool.
It is said Los Blancos chiefs are impressed with his youth and speed and could move for him in the future.
However, they will reportedly face competition from rivals Barcelona.
The La Liga giants have apparently turned their attentions to Mane after missing out on Philippe Coutinho in the summer transfer window.
Ernesto Valverde is keen to find a long-term replacement for Neymar, who joined Paris Saint-Germain in a world-record £200million deal.
He did bring in Ousmane Dembele from Borussia Dortmund for £135.5million.
But he has supposedly earmarked Mane as his next target to help fill the void.
Juventus are also said to be keen on the former Red Bull Salzburg man.
Mane is contracted to Liverpool until the summer of 2021.