The Uruguayan international was a summer target for Spurs boss Andre Villas-Boas, who worked with Pereira during their time together at Porto.
According to reports in Italy, Inter are willing to let the 27-year-old leave the club after his first-team oportunities have become more sporadic at the San Siro.
Villas-Boas is keen to make Pereira his first signing in the January transfer window as Spurs attempt to secure Champions League qualification for the first time since 2010.
The Spurs manager tried to sign the former Cluj man during his short stint at Chelsea, but saw his bid rebuffed by Porto with Pereira signing a new five-year deal at the club.
Pereira joined Inter only a year ago for just over £8m and has gone on to make 28 league appearances scoring one goal in the process.