The Belgian has established himself as one of the finest players in the world since swapping Lille for Stamford Bridge in 2012, winning admirers and medals aplenty in the process.
Hazard has long been linked with a switch to the Bernabeu and is now set to complete the switch on the back of a memorable farewell appearance in the Europa League final last week.
And confirmation of the big-money move could be imminent after the Guardian reported that Chelsea and Madrid have verbally agreed a fee in the region of €100m (£88.5m) plus add-ons.
The 28-year-old forward is expected to sign a six-year deal with Madrid and will join former Eintracht Frankfurt striker Luca Jovic, who signed earlier this week, as a summer arrival.
Hazard conceded last Wednesday he is likely to have played his last game for Chelsea after scoring twice in their Europa League final victory over Arsenal .
Olivier Giroud opened the scoring against his former club before Hazard provided the assist for Pedro and soon got on the scoresheet himself, coolly scoring from the penalty spot before putting the game to bed by sweeping home after a stunning Alex Iwobi strike briefly gave Arsenal hope.
Hazard had previously said he would reveal his plans for the future following the game in Baku and, after initially being reticent to commit himself, told BT Sport: “I think it’s a goodbye but in football you never know.
“My dream was to play in Premier League, I did this for seven years in one of the biggest clubs in the world so now maybe it’s time for a new challenge.”
Hazard has been linked with a move to Spanish giants Real Madrid and added: “I will decide in a few days. My target was to win the trophy, that’s the only thing in my mind.
“I took my decision already, I said that two weeks’ ago. Now it depends on the club, both clubs. I’m just waiting like the fans wait. We’ll know in a couple of days.”