Real Madrid have struck a deal to sign Norway's teenage sensation Martin Odegaard from Stromsgodset.

The Spanish giants did not give details of financial terms but Spanish media reported they had agreed to pay around €3 million for the 16-year-old midfielder playmaker.

Odegaard is one of Europe’s brightest prospects, having already represented his country three times after becoming the youngest player to play in the Norwegian Tippeligaen last year.

Several big clubs – including Barcelona, Bayern Munich, Liverpool, Manchester United and Ajax – were thought to be chasing Odegaard, but it appears Real have won the race.

“Real Madrid CF and Stromsgodset Fotball have reached an agreement for the transfer of Martin Odegaard,” said a statement on the Spanish giants’ official website.

"After undergoing a medical exam, the player will hold a press conference with the director of institutional relations, Emilio Butragueno, today 22 January at 1:30pm CET in the Ciudad Real Madrid press room."

Odegaard scored five goals in 23 games for Stromsgodset to help the team finish fourth in the Tippeligaen last year and became Norway’s youngest international when he started against United Arab Emirates at the age of 15 years and 253 days in August, breaking a record that had stood for more than a century.

Last October, Odegaard became the youngest player in the history of the European Championship when he came on as a substitute in Norway’s 2-1 victory over Bulgaria in a Euro 2016 qualifier.

Real are looking to reinforce their midfield line with Germany international Sami Khedira expected to leave Madrid in the summer having turned down a contract extension.