Zidane returned for a second spell as Madrid manager last week after reportedly being promised at least £300m to spend on new signings ahead of next season.
And according to France Football, the Frenchman has identified Mané as a leading target having previously considered making a bid for the former Southampton man in 2018.
Mané has been one of the Premier League’s standout performers this term, scoring 17 goals to help Jurgen Klopp’s men to the top of the table after 31 games.
The Senegalese has also found the net three times in the Champions League, where Liverpool will face Porto in the quarter-finals.
And his performances haven’t gone unnoticed further afield, with Madrid – who are set to end the season without a domestic or European trophy for the first time since 2010 – weighing up an offer for a player who cost Liverpool £34m when he joined from Southampton three years ago.