The 18-year-old sensation is highly sought-after this summer following a breakout campaign in the Turkish top flight, where he notched seven goals and seven assists in 32 league games.
The youngster has been eager to join a club where he can continue his development while playing a role in and around the first-team set-up.
He was initially concerned about joining the 14-time Champions League winners amid reports suggesting he would immediately be sent to their youth team.
However, it appears the wonderkid has had a change of heart and is now set to join Los Blancos, who have agreed to pay well over the youngster’s termination clause.
Guler has a €17.5 million release clause in his contract, but that would not pose a problem for the free-spending European heavyweights who consider the price reasonable considering the player’s huge potential.
Madrid have cultivated a habit of snapping up some of the finest young talents from across the globe.
Guler will be the latest highly-rated youngster to join the club’s squad, following in the footsteps of Brazilian wonderkid Endrick.
Los Blancos also completed a mega-money deal for the more mature and first-team-ready Jude Bellingham, with the 19-year-old ditching Borussia Dortmund for Santiago Bernabeu last month.
However, Guler could prove to be a big miss for Barca, considering his impressive statistics.
No one in Guler’s age group in the Super Lig and Europe’s top five leagues had more goal involvements than the Turkish youngster last term.
Madrid will pay more than Guler’s release clause to seal the deal, while Fenerbahce have also included a 20% sell-on clause.