Having completed the signing of Borussia Dortmund winger Jadon Sancho in a Stg73 million ($A136.5m) deal last week, the 28-year-old Varane is set to be the next arrival.

United confirmed a deal has been reached with La Liga giants Real for long-standing defensive target Varane to head to the Premier League.

"Manchester United is delighted to announce the club has reached agreement with Real Madrid for the transfer of French international defender and World Cup winner, Raphael Varane, subject to a medical and to player terms being finalised," the Old Trafford giants said in a statement.

The PA news agency understands that personal terms have been agreed on a four-year deal with the option of a further season, with the contract to be signed after he completes his medical.

Varane will arrive in the UK after he and his family get their visas, with his United medical coming after he completes quarantine in line with current coronavirus travel restrictions.

The transfer is reportedly worth Stg34m ($A63.5m) rising to Stg42m ($A78.5m) with add-ons.

Varane, who had one year left on his Real contract, played more than 350 times for Real and played in all four of France's games at this year's European Championship.

"Real Madrid C. F. and Manchester United FC have agreed the transfer of Raphael Varane," the Spanish club said in a statement.

"Our club thanks the player for his professionalism and exemplary conduct throughout his ten seasons representing our colours, during which time he has won 18 titles: 4 Champions Leagues, 4 Club World Cups, 3 European Super Cups, 3 LaLiga titles, 1 Copa del Rey and 3 Spanish Super Cups."

United had been interested in the defender before he joined Madrid from Lens in 2011, with Varane playing a key part in the Les Bleus side that lifted the World Cup trophy in 2018.

Varane joins England international Harry Maguire - the world's most expensive defender - Victor Lindelof, Eric Bailly, Phil Jones and Axel Tuanzebe as Ole Gunnar Solskjaer's centre-back options.

The Red Devils kick-off their Premier League campaign on August 14 against Leeds United at Old Trafford.

Australian Associated Press