Los Blancos came out on top in the first leg thanks to goals from Karim Benzema and Marco Asensio either side of a Hakim Ziyech strike.
Real are bidding to win the Champions League for the fourth year running and the fifth time in six seasons, while Ajax are aiming to reach the quarter-finals for the first time since 2003.
Date: Tuesday, March 5
Time: 8 p.m. GMT/3 p.m. ET
TV: BT Sport 3 (UK), TNT USA
Real were fortunate to come away with a win in the first leg, after Ajax's Nicolas Tagliafico had a goal controversially ruled out after consultation with VAR.
In their four matches since, they've lost to Girona, scraped past Levante and been defeated twice by Barcelona, who knocked them out of the Copa del Rey and moved 12 points clear of them in La Liga.
The Champions League is now Real's only means of salvaging their season, as football journalist Rik Sharma noted:
They'll have to get through on Tuesday without captain Sergio Ramos, too, following his booking in the first leg.
SB Nation's Lucas Navarrete has been unimpressed with Real's recent efforts and believes Ramos' absence could be costly:
The Spaniard has been given a two-match ban by UEFA for deliberately picking up a yellow card in an effort to ensure the slate would be wiped clean for the quarter-finals, but his plan could easily backfire against an impressive Ajax side.
The Amsterdam team have scored 13 goals in the three matches they've played since the first leg and carry plenty of threat going forward.
They have five players on double figures for the season in all competitions—Dusan Tadic, Ziyech, Klaas-Jan Huntelaar, Donny van de Beek and Kasper Dolberg have 80 goals between them.
Keeping them at bay without Ramos won't be easy, and confidence looks to be in short supply at the Bernabeu after their recent form.
Real seem to have the inexorable ability to raise their game in the Champions League regardless of any domestic struggles, though. It's unlikely to be a comfortable night for Los Blancos, but they should still be the favourites to progress.