The 25-year-old came through the ranks at Bootham Crescent but failed to make the grade, being released in 2010.
Following spells at non-league Ossett Town and Tadcaster Albion, Hopcutt moved to Swedish side Ostersunds FK in 2012, where he has scored 38 goals in 109 appearances.
The York-born player helped his club win the Swedish Cup final last year and, on Thursday, he scored an impressive solo goal in the shock Europa League win over Galatasaray.
According to the Birmingham Mail, Hopcutt's progress has seen Villa, Wolves and Brighton all express an interest in his services, with the player reportedly being valued at around £1.5m.
Ostersund were playing in the fourth tier of Swedish football in 2011, but finished last season eighth in the Allsvenskan.