The 36-year-old left Los Blancos on a free transfer last July and made the move to Paris Saint-Germain, signing a two-year contract with the French giants.
However, it proved to be a difficult 2021-22 campaign for the Spaniard, who only made 13 appearances during an injury-hit season, and there has been speculation surrounding his future in recent weeks.
Various reports in France had claimed that Real Madrid were considering bringing the experienced defender back to Bernabeu in the current market.
The report claims that Real Madrid believe that re-signing Ramos would be a 'step backwards', which is also the reason why they are not interested in bringing Cristiano Ronaldo back to the club.
PSG's new director of football Luis Campos is said to be looking to move the Spaniard on in order to make room in the club's wage bill for new additions.
Ramos joined Real Madrid from Sevilla in 2005 and made 671 appearances during his time in the Spanish capital, contributing 101 goals and 40 assists in the process.
The defender won five La Liga titles, two Copa del Rey crowns and four Champions League trophies during a highly-successful spell at Bernabeu.
Ramos did not feature in the Champions League for PSG last season, with 12 of his 13 appearances coming in Ligue 1, while he was also involved in the Coupe de France against EFAFC.
Real Madrid will take on Barcelona in their first friendly of the summer on July 23, while their opening match of the new La Liga campaign is due to be against Almeria on August 14.
Los Blancos have also boosted their squad with the arrival of Aurelien Tchouameni from Monaco, with the 22-year-old moving to the Spanish capital despite interest from elsewhere.