The report outlines the details of the deal, with Spurs to pay Los Blancos €30m (£27.5m) upfront plus a further €5m (£4.5m) in add-ons, whilst Madrid will also possess the right of first refusal on the player during his time in North London.
The left-back is set to join Spurs having initially been strongly linked with a transfer to Manchester United, who then backed out of the deal as they did not want to include a buyback option for the player.
Sevilla – where the player spent last season on loan – were also in the running but they have now signed Marcos Acuna from Sporting CP instead.
Ferland Mendy and Marcelo are the established left-back pairing in the Spanish capital now, meaning that Reguilon’s potential game-time has been significantly reduced.
Reguilon started 21 matches for Los Blancos in the 2018/19 season and was tipped for a bright future at the club but the arrival of Mendy last year means Madrid decided to move him on.
The left-back enjoyed prominence under Julen Lopetegui and Santiago Solari at Madrid but fell out of favour following Zinedine Zidane’s arrival.