The Brazil defender is a potential target for the Spanish giants should they fail in their bid to land Inter Milan full-back Maicon.
"We know Real wants Thiago Silva," said Silva's agent Paulo Tonietto to tuttomercatoweb.com.
"It's a personal interest of (Real coach) Jose Mourinho."
Reports in Spain claim Real could offer AC Milan 15 million euros to acquire the 25-year-old Silva.
"The figures reported for Thiago are not realistic," said Tonietto.
"They are too low.
"Let's just say that just his arm is worth 10 million euros. Thiago is one of the best players in his role.
"In any case it will be Milan to decide whether to place the player on the transfer market this summer."