The Brazilian only left Barcelona for Paris Saint-Germain last summer for a world record £198million but it seems he is already eyeing his next big-money move.
Neymar is said to be unhappy with life at the Parc des Princes and his father is in talks with Real president Florentino Perez.
And according to Spanish publication Diario Gol they have now reached an agreement that will see Neymar join Real for the 2019/20 season.
Neymar wants to spend two years in the French capital making a name for himself.
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The former Barcelona star has plans to win the Champions League and the Ballon d’Or before seeking a new challenge.
However, Perez is still pushing for a deal to happen this summer and has told the Brazilian he will pay £222m for his signature.
Perez has promised to make Neymar the highest paid player in the world and the talisman of the Bernabeu.
Neymar was in Lionel Messi’s shadow at Barcelona and wants to be the main man should he join Real.
By the time the 25-year-old could move to Real, the club’s record goalscorer Cristiano Ronaldo would be nearing the end of his playing days.
Despite Diario Gol claiming an agreement has been reached for a future move, they suggest Perez will still plan to hold talks with Neymar at the end of this season in a bid to convince him to make the switch earlier than he wants to.
Perez is on the lookout for a new Galactico and with their season falling away following their 3-0 defeat to Barcelona yesterday, the 70-year-old wants to take action sooner rather than later.
Real now sit 14 points behind La Liga leaders Barca.