Calderon, who was in charge at the Bernabeu between 2006 and 2009, told Sky Sports he expected the club to move for Chelsea's ace.
"I think they are maybe looking for Hazard," Calderon said.
"People are always talking about him, but he has contract with Chelsea and he hasn't said anything about leaving Chelsea.
"So it is not a matter of money, as I said before many times, it is a matter of whether the player wants to leave.
"We haven't heard anything about Hazard leaving so we will have to see at the end of the year what is happening with the players currently at Real Madrid to decide what is to be done in the next transfer window."
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