The Anderlecht midfielder looks ready to leave the Belgian champions in January, but the report claims the Argentina international favours a move to Wolsburg.
The centre midfielder was reportedly a transfer target for Arsenal this past summer, while Manchester United manager Sir Alex Ferguson is believed to have been interested in the Argentine at one time.
But Biglia could spurn overtures from the Premier League, and instead join Wolfsburg. The 26-year-old wants to move to one of Europe's top leagues, and the report suggests Anderlecht are resigned to losing their star midfielder.
Biglia played alongside Lionel Messi at the FIFA under-20 World Cup in 2005, a tournament Argentina won, and the playmaker has since gone on to make seven appearances for his country.
The Mercedes-born star made the move to Europe in 2006, and has made more than 175 appearances for Anderlecht, winning three Belgian first division titles, and one Belgian Cup.
His impressive displays at the heart of the Anderlecht midfield led to interest from Manchester United and Arsenal, but both Premier League clubs could miss out on Biglia in the New Year.
Wolfsburg have hardly set the Bundesliga alight this season, but they moved up to 14th in the table with a crucial 3-2 victory away to champions Borussia Dortmund this weekend.