The Spanish champions have blamed a hacker for the gaffe, which listed the Tottenham Hotspur midfielder as a member of Jose Mourinho's squad
Minutes after the profile was added to Los Blancos' official club website, it was hastily taken down, however, the page had already been viewed by thousands.
Modric was described as a Real Madrid player since 2012, with his departure from White Hart Lane illustrated by a section which stated: "Tottenham (2008-2012)."
The Spanish giants have since claimed that a hacker was involved, which they say is to blame for the miscalculated incident.
Following no official confirmation from either club, the transfer is yet to be made public, however the Liga champions' players have been vocal in their admiration of the Dinamo Zagreb man.
This follows on from the news that Marca had posted a picture of the Croatian in the Spanish capital on Tuesday, only for it to later emerge that the photograph had been taken two years ago.