The La Liga Champions are willing to offer two world-class midfielders in the deal to see the Argentine move to Santiago Bernabeu.
Real Madrid is interested in signing a midfielder that can chip in the goals regularly, an attribute Isco, Kross, Madrid and Casemiro are lacking.
Los Blancos has been reliant on Karim Benzema for the goals, with their next highest scorer being defender Sergio Ramos on 11 – most of which have been penalties.
According to Italian outlet SportMediaset, Real Madrid is desperate to bolster their attack and have turned their attention to Dybala in a deal that could exceed €100million (£90m).
Real Madrid wants to lower the valuation of the former Palermo ace by including isco and Kroos, Dybala has been a subject transfer interest over the past seasons with Manchester United and Tottenham Hotspur close to signing him.
The Real Madrid target scored 11 goals and laid six assists this season.