According to the Daily Mail, the 25-year-old is set to leave Mexican outfit Jaguares, with whom he currently plays, amid rumours of a £10million transfer to bring him to English shores after a move to Porto failed to materialise last year.
Sunderland, Wigan, Fulham and Everton have also been alerted to his potential availability, and with such high interest in the South American star, it appears only a matter of time before this exciting forward is plying his trade in the Premier League. GiveMeFootball investigates...
Martinez is a young, fast, agile striker who is good in the air. In 2009, he became the all-time leading scorer in one season, with 18 goals in the Colombian League, and also led first club Independiente Medellin to its fifth domestic title.
The talented striker has established himself as a prolific goalscorer, and after signing for Jaguares in the summer of 2010, he ended his first season with a total of 9 goals, placing him fourth in the top scorer's table.
His international experience means that Martinez is well accustomed to the game outside the Americas, and has a decent return of five goals in 10 appearances for Colombia, the most recent of which came off the bench as Los Cafeteros beat Mexico 2-0 in midweek.
He boasts an equally impressive record of 28 goals in 53 games for Jaguares at club level, and will have benefited from playing against quality opposition over the years.
With so much interest in the striker, it's clear that his ability, and undoubted potential to play at a higher level is not in question. However, like any new foreign player moving to another country, another culture, there is an element of uncertainty about how he will settle.
Premier League clubs now seem to be leading the race, but Martinez has also had offers from Italy, Spain and Portugal - which may perhaps be a better destination for a player who has spent all his life in his Spanish-speaking homeland.
"He's wanted by half of Europe. It's true," claimed his agent Giovanni Fiore recently. "He's a major player, but the most concrete case is from Spain. Villarreal want him."
However, speaking to Medio Tiempo this week, Martinez revealed that it was in fact Liverpool who are the club most likely to sign him, having held preliminary discussions with his representatives.
"There's a fairly good option to go to that club, but there's still nothing concrete," he said.
Martinez is certainly an exciting prospect, and his acquisition would prove to be a coup for either Liverpool, Manchester City, Arsenal or Tottenham.
His previously modest valuation of £5.5million has increased considerably due to the high interest in Martinez; but the revised transfer fee of around £10milion is unlikely to be regarded as a gamble by any of England's richest clubs.
With all the attributes needed to succeed in the Premier League, there will be an inevitable period of transition, but once his raw talent has been refined enough he could prove to be a leading star of the future.
Video | See Jackson Martinez in action for Jaguares & Colombia here!