Socceroos defender Milos Degenek is reportedly in line for a lucrative transfer to Saudi Arabia's richest club on the back of his terrific form in the UEFA Champions League for Red Star Belgrade.

Degenek only signed for Red Star earlier this year after a stint at Ange Postecoglou's Japanese club Yokohama F. Marinos but now looks set to shift to Al Hilal - the team the Western Sydney Wanderers beat to win the 2014 Asian Champions League final.

Big time player: Milos Degenek tackles French World Cup star Kylian Mbappe during Red Star Belgrade's UEFA Champions League clash with Paris Saint-Germain in December. Credit:Darko Vojnovic

Multiple Serbian news outlets have reported Al Hilal's interest in the 24-year-old centre-back and are ready to trigger his €3 million ($4.9 million) buyout clause during the January window, which would take the decision out of Red Star's hands.

Respected Middle Eastern football blog Ahdaaf has also claimed representatives from Al Hilal met with Degenek in Dubai on Tuesday, when the Socceroos players had a day off from their pre-Asian Cup training camp.