After completing their first January transfer signing earlier this week, Real Madrid's third departure was confirmed on Friday.
Click through the gallery to see Real's transfer business this month.
Defender Jesus Vallejo will spend the rest of the 2019/2020 season on loan at fellow LaLiga outfit Granada.
Vallejo was initially on loan at English Premier League outfit Wolverhampton Wanderers, but the spell was cut short due to a lack of game time this season.
Real Madrid C. F., Wolverhampton Wanderers FC and Granada C. F. have reached an agreement over a loan deal that will see Jesús Vallejo spend the remainder of the season, up until 30 June 2020, at Granada," Real's statement read.
The 23-year-old becomes the third player to leave the Santiago Bernabeu on loan this month, following the departures of Alvaro Odriozola and Andrii Lunin.
Los Blancos also announced the signing of Brazilian starlet Reiner from Santos in a deal reportedly worth €30million.