The Paraguay international is locked in a Didier Drogba-style dispute with his club, who he alleges to have reneged on their deal signed 12 months ago.
Drogba left Shanghai Shenhua after a similar dispute last season.
Arsenal and Manchester City have been linked with Barrios in the past, specifically when he was at Borussia Dortmund.
Both are thought to be keen to recruit a new striker this summer, and Barrios's availability could spark a revival of interest.
Barrios posted a letter on the Chinese club's website accusing Guangzhou of withholding a "substantial amount of the overall renumeration agreed upon in the contract."
He continued: "I will continue my career at another club that is interested in my sports performance."
The report claims a return to the Bundesliga could also be on the cards, with Werder Bremen ready to challenge City or Arsenal for his signature.
28-year-old Barrios was prolific for Colo-Colo and Borussia Dortmund, and could be tempted to play in Europe again.
City are thought to be in the market for a new striker, following the departures of Mario Balotelli and Carlos Tevez in the past six months.
Arsenal have been heavily linked with Gonzalo Higuain, but that deal is yet to be confirmed.