Jimenez has been in impressive form for Wolves during the 2019-20 campaign, scoring 22 times and providing 10 assists in 44 appearances in all competitions.
According to reports in Spain, the 28-year-old could potentially be available for transfer this summer should Madrid submit an offer in the region of €60m (£54m).
Manchester United have also been credited with an interest in the centre-forward, who completed a permanent move to Molineux ahead of the 2019-20 campaign, having initially been on loan from Benfica.
The Mexican previously played in the Spanish capital for Atletico Madrid during the 2014-15 season. body check tags ::