That’s according to football consultant Ian McGarry, who believes the Belgian would cost two or three times that amount if he was under contract for longer at Stamford Bridge.
Hazard has long been linked with a switch to the Bernabeu and described the potential move as a ‘dream’ back in October.
He came very close to joining Real last summer, but Chelsea were not prepared to lose their star man for at least another year.
The 28-year-old will have just a year remaining on his contract in the summer, meaning the Blues will face losing him for free if they don’t cash in on him at the end of the season.
And McGarry believes it is becoming a trend for players to run contracts down and ensure they hold the power in any transfer negotiations.
“They will sell Hazard for probably around €100m,” he told The Transfer Window podcast.
“And for a player of his talent and quality, if he was under contract for another three years you’d be looking at two or three times €100m.
“So the players, and [PSG midfielder Adrien] Rabiot’s obviously a lesser version of this, are running the contracts down simply to say: ‘I’ve got the power now, if I want to leave I’ll leave because you’ve got to take the money for me after everything you’ve invested so far.’”
He added: “Similar situation at Spurs with Christian Eriksen, whose contract expires a year in the summer, and he will be very much a target for many clubs, certainly elite clubs, this summer as well.”
Another man being tipped to join Real is PSG superstar Neymar.
The Brazilian, who moved to Paris for a world-record £200m back in 2017, is reportedly unhappy at the Parc Des Princes.
According to journalist Duncan Castles, Neymar wants Hazard to join him in Madrid next season.
“Interesting side element in this, Real Madrid’s priority for the summer, Florentino Perez’s priority for the summer, was Neymar,” he said.