Real have already announced the signing of Eder Militao from FC Porto for a fee of around £44million while the capture of Luka Jovic was also announced today.
The 21-year-old Serbia worldwide has agreed a five-year contract with the La Liga giants.
And his performances have earned him a move to Real Madrid on a six-year deal.
Frankfurt had loaned Jovic from Benfica for the past two seasons and due to a permanent signing clause in his contract were able to purchase the Serbian global for a fee believed to be around €7 million (£5.96m).
The former Benfica striker scored 27 goals in all competitions last season, including 10 in the Europa League, taking his side to the Semifinals of the tournament.
Jovic, 21, has agreed a six-year contract with the Spanish giants, while the move is subject to a medical.
Barcelona were said to be interested in signing Jovic and reportedly scouted the Serbia striker as they hunt for a long-term successor to Luis Suarez.
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Jovic is likely to significantly enhance their goal threat next season and Frankfurt sporting director Fredi Bobic admits he will be missed in Germany.
"His explosiveness and scoring skills have spread throughout Europe and we've benefited from his goals over the past two years".
A masterful movement by Real Madrid, who are looking to strengthen their squad after a disappointing season.
"But for us it was clear that there is a financial threshold".
"For Eintracht Frankfurt this is a good and important transfer".
He then moved to Eintracht, initially on loan, before a permanent deal was completed this year. "We wish Luka only the best for his future", he added. He has what it takes to have a great career. "We are proud to have helped him on his way", he said.
The Frenchman has scored 30 goals in 52 games across all competitions this season, including 21 in La Liga, 18 more than his total for past year.