There have been few transfer windows since the Utrera-born midfielder's name has not surfaced as a potential signing for the Verdiblancos, with the rumours sometimes stronger than others.
The reality, however, is that his path back to the club where he made his name has been heavily complicated since he chose to renew with Real Madrid for four seasons on June 23, 2023, barely a week before he would have become a free agent.
That decision was not well received within Real Betis' boardroom at the time, given the club had spent months offering an improved release clause before Ceballos eventually left for a fee of €16.5m, well below his market value at that point.
The passage of time, several changes of representative for Ceballos, and numerous public gestures of affection towards Betis have gradually repaired a relationship that once appeared completely broken.
A favourable scenario now appears to be emerging for Ceballos to fulfil his wish of returning to the club, with his contract due to expire in a year, no future at Real Madrid under Jose Mourinho, and the Spanish giants needing to free up squad space and salary room for incoming signings.
Despite that desire from both player and club, Real Madrid have so far resisted the idea of letting Ceballos leave for free, even with offers on the table for the midfielder, a stance that may be about to change.
Betis decided some time ago that any return for Ceballos would need to come without any transfer fee involved, leaving it up to the player to negotiate favourable exit terms with Real Madrid.
Ceballos currently occupies around €10m of Betis' old wage bill structure in gross salary terms at Real Madrid, a sum the Spanish club are keen to save heading into next season, while also hoping to recoup an additional fee for a player who retains market value, with Ajax among those to have shown interest in recent weeks.
With Ceballos just over a month away from turning 30, soon to become a father to twin daughters, and Betis competing in the Champions League, the midfielder is keen to accelerate his return home.
According to reports, Ceballos is already negotiating his Real Madrid exit, giving up outstanding amounts owed to him in order to leave on a free transfer.
While nothing has been finalised given the history of these talks, those involved increasingly believe Ceballos' return to Betis is now closer than it has ever been.