The 28-year-old has been linked with a move to Old Trafford over the last few weeks.
He remains a key player for Los Blancos but his contract is due to expire next June, and the La Liga champions are thought to be open to the idea of him being sold in the summer market.
The Red Devils continue to be strongly linked with Villarreal’s Pau Torres, but according to the Manchester Evening News, Varane is still a target for the 20-time English champions.
The Frenchman has made 40 appearances for Madrid in all competitions this term.
Varane has won three La Liga titles and four Champions League during his time at the Bernabeu.