Manager Carlo Ancelotti said on Saturday Hazard was suffering from gastroenteritis, while Bale picked up a knock last week while on international duty with Wales.
Both players missed Sunday's 4-1 league win at Granada, which moved them a point clear at the top.
Real named forwards Karim Benzema, Luka Jovic, Vinicius Jr, Rodrygo and Mariano Diaz in their 23-man travelling squad for the match against Moldovans Sheriff, who stunned Real 2-1 at Santiago Bernabeu in September.
Real top Group D on nine points after four matches, two points above Inter Milan with Sheriff a point further back.
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