 On July 4, 2012, Fernández returned to Real Madrid by signing a three-year deal worth 9 million euros net income.In May 2014, alongside his teammate Sergio Rodríguez, he was named to the All-EuroLeague First Team of the EuroLeague, the second consecutive in his career.On August 14, 2014, he signed a three-year extension with Real Madrid, to stay in the club until 2018.