Mbappe and Haaland are the main targets.
Real Madrid are not planning to make extreme changes to their squad next summer, with all their efforts being focused on strengthening their attack, particularly with regard to the potential signing of Paris Saint-Germain star Kylian Mbappe.
Borussia Dortmund striker Erling Haaland has also been placed on their radar, but if Los Blancos fail to land those two players, they would be open to explore more options, such as signing a winger or a midfielder depending on possible sales.
Their painful 1-0 defeat to Paris Saint-Germain last Tuesday saw the players and coaches find themselves on the receiving end of criticism, with rumours beginning about a potential squad overhaul.
Yet, Real Madrid are not willing to mess up their financial situation, which they have been working since the COVID-19 pandemic began, and this summer will not be an exception.
Gareth Bale, Marcelo and Isco will be released by Real Madrid as their contracts are coming to an end, while Jesus Vallejo, Mariano Diaz and Dani Ceballos are also expected to leave.
Los Blancos may try to cash in on Eden Hazard, and Marco Asensio's future will be decided in summer. Alvaro Odriozola, meanwhile, will be returning from his loan spell at Fiorentina.
Rafa Marin could be promoted from Real Madrid Castilla, and another player that could come in to beef up the squad is Fran Garcia, who has had a successful loan spell at Rayo Vallecano this season.
Toni Kroos, Casemiro, Fede Valverde, Luka Modric and Eduardo Camavinga will be Real Madrid's midfielders, while Carlo Ancelotti knows his role and objectives for the season.
Winning LaLiga Santander is a priority, and Ancelotti revealed on Friday that he spoke with club president Florentino Perez and general director Jose Angel Sanchez after Real Madrid's defeat to PSG at the Parc des Princes.