Spurs are likely to be more than content with receiving such a fee for a player that failed to establish himself at White Hart Lane.
The 22-year-old has started 17 league games during his loan spell with Schalke, scoring and assisting four times.
Bentaleb has arguably been one of the club's more consistent players this season, inspiring them to only their seventh Bundesliga win last weekend.
Schalke sit in a disappointing 11th place with 20 games played, with European football now seemingly out of reach.
Tottenham are likely to have no concerns in seeing Bentaleb leave such is their strength in midfield.
The Algerian was originally expected to potentially see out his loan spell until the end of the season before a permanent transfer was considered, but the clause in his contract means that it could be confirmed following Schalke's next fixture.