The Slovenian shot-stopper is highly coveted in the Premier League, with Arsenal, Manchester City, Chelsea and Manchester United all linked with bids as they prepare for potential goalkeeping departures.
And Goal understands that Madrid - who motivated Chelsea and United's interest in Oblak with their reported interest in Thibaut Courtois and David de Gea - are ready to consider an offer for the 24-year-old as an alternative to current No. 1 Keylor Navas.
Courtois and De Gea remain the frontrunners to move to the Santiago Bernabeu in the summer should Zinedine Zidane decide a new No.1 is needed.
Oblak has emerged as another option, however, for the Merengue if they fail to land one of the Premier League stars, though the deal would not be easy to complete given Atletico's likely demands.
The goalkeeper has a release clause worth a mammoth €100 million and Atletico are not prepared to lower that price for any suitor, least of all their arch-rivals in the Spanish capital.
A possible compromise, however, could be a part-exchange deal, with Diego Simeone's men needing a new keeper if Oblak was to leave and also seeking a top-class striker.
United remain in pole position to land Oblak having made the most progress of the interested Premier League clubs in convincing Atletico to sell. He would be in line to replace De Gea if the Spaniard's move to Real, which has been mooted for several years, was to be completed this summer.
It is by no means unthinkable, however, that Zidane and Florentino Perez could cut out the middle man and move directly for Oblak should negotiations with the English club prove as difficult as they have done previously.
Should a move materalise, Oblak would not be alone in crossing the Spanish capital this summer; Alaves loanee Hernandez completed a medical ahead of his proposed switch earlier this month.