The 24 year-old left the Bernabeu in the summer 2012 for a fee of around 6 million euros to Bundesliga club Hoffenheim before leaving Hoffenheim on loan to fellow German side Eintracht Frankfurt.
Joselu had a fairly successful stint at Frankfurt last season with 14 goals and 3 assists in all competitions and could now be in line for a return to Real Madrid during the upocoming transfer window.
It is believed that the Spanish club have a buy-back clause in Joselu's contract at a fee of around 12 million euros much like the situation of Dani Carvajal who moved from Real Madrid to Leverkusen and back.
Joselu would most likely only be brought back in order to replace Alvaro Morata who looks set to leave for more game time after playing second fiddle to Karim Benzema.