The Spanish international joined Spurs from Valencia in the summer for a fee in the region of £26 million.
Soldado hasn't been able to repay his fee as yet however; he's managed 10 goals in 26 appearances this season and is yet to find the back of the net in 2014.
He passed up a golden opportunity to break his duck in the Europa League on Thursday against Dnipro when he contrived to shoot over the bar from close range with the goal at his mercy.
The 28-year-old posted an apology to Tottenham fans on his Instagram page after the game - but according to the Mirror that may not be enough.
They claim that Tottenham are weighing up the possibility of a swoop for in-form Atletico striker Diego Costa as his replacement in the summer.
The 25-year-old has hit 27 goals already this season - with his latest proving to be the winner in Atletico's last 16 first leg tie against AC Milan in the Champions League on Wednesday.
If that is the case then it would put them in direct competition with Chelsea, who have also been linked with the Brazilian.
Both Chelsea and Tottenham appear short of options in attack after failing to add reinforcements in the January window, and are likely to bring in a new striker in the summer.
Spurs are soon to lose Jermain Defoe to Toronto and with Soldado out of form, can only call upon Emmanuel Adebayor to lead the line.
Chelsea meanwhile have three main options in attack - Samuel Eto'o, Fernando Torres and Demba Ba - however none have set the world alight this season.