The 26-year-old's current deal expires next year, but Kiperszmid said that he wants to leave the Ramon Sanchez Pizjuan after a six-year stay.
He also revealed that a number of clubs around Europe have shown an interest in his client, who could now be sold in the summer.
"His contract expires in 2014 and we're not talking about extending the deal with Sevilla," Kiperszmid told tuttomercatoweb.com. "His future will likely be far from Sevilla. We want to try a new experience.
"In January, the club refused offers from German and Russian sides, but they might be content with a few million in the summer.
"Four Italian sides like Fazio and Serie A would be a welcome destination, but he also has admirers in England. Federico would like to play for a top European club."
Fazio has two caps for his country.