The Principality outfit sent scout Armand Francherio to watch the Spanish Under-21 international in action against Mallorca last weekend.
Ibanez produced a solid display in his side's 2-0 victory, their first of the season, and will have added further to his growing reputation.
The stopper has been linked with Manchester City, Arsenal, Leeds and Roma, but it now seems Monaco have turned their attention to him as they seek a long-term replacement for Rafael Marquez who moved to Barcelona during the summer.
Monaco boss Didier Deschamps is currently employing Julien Rodriguez and Sebastien Squillaci in central defensive berths, but is keen to bring in defensive reinforcements to the club.
According to the Spanish media, the Championnat outfit have registered their interest with Albacete, but have yet to make a formal offer for the highly-rated 22-year-old.