Olise, 24, has been in some incredible form since joining Bayern from Crystal Palace back in July 2024, scoring 30 goals and providing 28 assists in his 80 games.
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As a result, several clubs back in the Premier League, including Man City and Liverpool, have both been heavily linked with a move for the Frenchman.
According to journalist Christian Falk, Real Madrid are the latest European giant to strike an interest as they seek to sign a new right-winger.
Bayern Munich’s stance is clear, however. The German club consider Olise ‘untouchable’ and are hoping to tie him down to a new contract soon.