Portuguese newspaper A Bola claims that Pereira may be available in the winter window after going through a 'difficult period' with Inter Milan. He's made just three league appearances for the Italian giants, and struggled against Gervinho in his most recent start against Roma.
Spurs boss Andre Villas-Boas has been a long-term admirer of the Uruguayan international, and managed him at Porto during Villas-Boas's brief, but hugely successful, reign.
While speculation is mounting regarding a potential move, the player's agent - Flavio Perchman - insists he's not thinking about a transfer at this stage.
"I do want to talk about the future of Alvaro [Pereira] at this time," said Perchman.
"He belongs to Inter and is quiet but you do not know your future. October is too early to talk about the market in January."
The left-back had been linked with Spurs even before Benoit Assou-Ekotto joined Queens Park Rangers on loan before the close of the summer window.
Villas-Boas has played Danny Rose in the position so far this season, with Kyle Naughton deputising due to Rose's recent absence due to injury.
But the Spurs boss may look to strengthen in the January window, and according to the report, Pereira could be available.