The Belgium international was back to his brilliant best as Chelsea won the Premier League title last season but he was stopped in his tracks after breaking his ankle while playing for Belgium in the summer.
The injury turned out to be a blessing in disguise in one sense as Real cooled their interest in the player, but reports are rife they could make another move in January now he is back to fitness.
Hazard has often spoken of his huge admiration for Real Madrid and their coach Zinedine Zidane, and Chelsea are concerned he would be more than tempted to head to the Bernabeu if an approach was made.
With that in mind they are looking to rip up his current contract that runs until 2020, and replace it with a lucrative new one to keep him out of the clutches of Real.
Real will cash in on Gareth Bale at the end of the season and see Hazard as an upgrade if they can lure him away from Stamford Bridge.