Spurs are keen to add another striker to their ranks before tonight's 11pm transfer deadline, despite forking out £26 million on Valencia striker Roberto Soldado earlier in the summer.
And a move for Hulk is apparently in the offing, with Villas-Boas eyeing up a loan move for the 27-year-old Brazilian star.
However, the biggest stumbling block to any potential deal remains the fee.
Zenit want Spurs to pay £10 million to take Hulk to north London, with the White Hart Lane outfit unwilling to match their demands.
Hulk, who is currently en route to Brazil to meet up with the national side, is keen to work with Villas-Boas, but Zenit's demands are likely to scupper the deal.
Tottenham have already spent big this summer, paying over £100 million on the likes of Soldado, Nacer Chadli, Paulinho, Etienne Capoue and Erik Lamela.
However, chairman Daniel Levy has recouped almost all of Spurs' summer outlay when Gareth Bale completed his world record transfer to Real Madrid.