Citing reports in England, A Bola claims David Moyes is preparing a new offer for the Spaniard having failed in his pursuit over the summer.
The defending Premier League champions targeted Herrera late in the day as the transfer deadline approached in September, and ultimately came up short.
Manchester United reportedly offered €24m plus add-ons for the Bilbao playmaker but the La Liga side rejected the offer.
United were left red-faced after impostors posing as United officials turned up in Spain to complete the transfer, only to be discovered by the Spanish authorities.
Despite the rejection, United plan to make another offer for the talented midfielder as Moyes looks to strengthen an area of the squad identified as a weakness.
Herrera's release clause is €36m, and United could face difficulty extracting the player for less with Bilbao insistent on receiving the full amount.
The 24-year-old has made nine appearances in La Liga so far this season, but has struggled for consistency.