The Spanish club is expected to confirm the signing of Ouzane, a talented Moroccan U17 international, within the week.
Ouzane is considered one of Ajax's most promising youth talents, but he has decided to leave the club to pursue a new opportunity in Madrid.
Despite efforts by Ajax's new senior coach Johnny Heitinga to persuade Ouzane to stay, the young player has chosen to join Real Madrid and sign his first professional contract.