According to Mundo Deportivo (via Football Italia), Los Blancos were interested in Dybala's services last season but decided against chasing La Joya after he put in an anonymous showing in the UEFA Champions League final.
The forward has started the new season in superb fashion, however, and Madrid president Florentino Perez is once again interested in a possible move next summer.
As shared by bet365, Dybala has been fantastic early this season:
Paulo Dybala's league form: ⏰ 466 minutes ⚽️ 10 goals ⏱ 47 minutes per goal 😎 Top goalscorer 🔥🔥🔥 https://t.co/6zNoDfRalf2017-9-23 20:51:03
Per B/R Football, his scoring record has been historic:
B/R Football @brfootball
9️⃣ goals 6️⃣ matches Paulo Dybala is the first player this century to start the Serie A season with that record 💎⚽️🔥 https://t.co/hVtT1qx5RN2017-9-23 19:38:31
The 23-year-old spent much of last season playing in a midfield role, and while he adapted well―he was often the team's only major creative force―his scoring record diminished as a result.
He's returned to the attack this season, with amazing results. Per BeIN Sports USA's Andres Cordero, it's what the club had been waiting for:
Andres Cordero @DreCordero
This is the jump we've been waiting for Dybala to make. It's his team. They'll go where he takes them.2017-9-23 19:04:29
That may not be enough to secure the Argentina international, however, per the report. Dybala has pledged his allegiance to the Bianconeri on multiple occasions and signed a new long-term contract earlier this year.
The former Palermo man is crucial to Juventus, who have handed Dybala the famous No. 10 jersey in an attempt to keep him in Turin. They've also posted strong financial numbers, meaning there's no economic reasons to sell.
Resisting the lure of one of the two La Liga giants could be difficult for Dybala, though, especially if the Bianconeri fail to take the next step in Europe. While they've come close, both Barcelona and Real have denied the club the Champions League trophy in recent years.
If La Joya does decide to leave Turin, he will cost a small fortune, with Juventus expected to hold out for a fee close to the record-breaking transfer of Neymar. An offer of €175 million most likely won't be enough to secure the youngster, who has a contract until 2022.