The Dutch midfielder has spent the last two seasons on loan at the Liberty stadium from Villareal, but Monk wants the 26-year-old to put pen to paper on a full-time contract with the Swans.
"He's done well for us in the past and he's somebody that we are definitely looking at," Monk told BBC Sport.
"Behind the scenes we are talking to his agent and monitoring the situation. With the player himself, I don't want to bombard him with phone calls and texts. I want him to concentrate on what they [Netherlands] are doing because they are doing well.
"We will be competing with other teams, but we'll have to see where the chips lie whenever they are knocked out or if they win it."
de Guzman started 38 games for Swansea last season, scoring eight times.