The 18-year-old has reportedly agreed to a new five-year contract with the Spanish giants.
The highly-rated French midfielder is expected to pen a new five-year deal with the Spanish La Liga giants, who have agreed to a transfer fee worth €31m.
Romano also adds that the medicals have been completed and Madrid could make his announcement official today.
The Ligue 1 prospect will mark Madrid’s second signing of the summer transfer window following David Alaba.
Camavinga was heavily linked with an exit in the transfer window after he had reportedly rejected a contract renewal from Rennes.
With only one year left in his deal, the Ligue 1 outfit were also open to selling him for a considerable fee rather than a free transfer next summer.
PSG and Man Utd were thought to be in the mix after registering their interest in the French midfielder.
There were reports about Camavinga’s possible move to the French capital club before the end of the transfer window.
However, Romano contradicts that the player’s choice was the La Liga giants while both Man Utd and PSG made no bid.
Camavinga’s addition is a welcome boost for Carlo Ancelotti’s side, who are lacking depth in the midfield.
Madrid have also been linked with PSG ace Kylian Mbappe but things are starting to get difficult as the end of the transfer window nears.
Los Blancos have reportedly submitted a whopping €180m offer but the French capital club still looks undecided on whether to accept the fee or keep hold of the 22-year-old.