Real Madrid boss Carlo Ancelotti is keen to reunite with Everton forward Richardson at the Bernabeu, sources have told ESPN Brasil.
The pair spent 18 months together at Goodison Park with the 24-year-old scoring 20 goals in all competitions as Everton finished 12th and 10th respectively.
Sources have told ESPN Brasil that Ancelotti has told the Madrid hierarchy that he wants to bring Richardson to the club and Los Blancos will see if a deal with Everton will be possible.
Richarlison, who is competing in the Copa America with Brazil, joined Everton from Watford for £50m in 2018.
If a deal is struck, it will be the second consecutive season both clubs have traded James Rodriguez, who last summer swapped Madrid to Everton on a free transfer.
Madrid are unlikely to splash on big signings this summer as they calculate the cost of refurbishing the Bernabeu, while they have also been hit financially by the coronavirus pandemic.
While they would be eager to make a major signing on it, they are waiting to see how much they can recover with the sale of the player, sources have told ESPN.
This summer has already seen two Madrid legends leave the club, with Zinedine Zidane stepping down as manager and former captain Sergio Ramos ending his 16-year spell with the club.
Central defender Rafael Varane could also move closer to finalizing a deal with Manchester United for the France international.