The Dutch midfielder is thought to be available next month after refusing to sign a new contract on reduced terms at the San Siro.
The 28-year-old hasn't played for the club since September, after missing two months through injury before being left out due to disagreements over his new contact.
The dispute over his new deal has led to a number of clubs keeping a close eye on the situation, with Paris Saint-Germain the favourites to land the player.
However, Gazzetta dello Sport claims that Tottenham are shock outsiders to sign him, as Andre Villas-Boas looks to bolster his midfield.
Manchester United have cooled their interest in Sneijder, leaving PSG and Spurs to fight for his signature.