Arsenal are prepared to let Torreira leave as they look to raise funds to bring in a new midfielder before next month’s transfer deadline.
The former Sampdoria midfielder is keen to return to Italy and several clubs in Serie A are interested in getting their hands on him.
AC Milan have renewed contact with his representatives and Fiorentina are still considering making a move for him in the ongoing transfer window.
But Torreira is Torino’s priority target and according to Italian broadcaster Sportitalia, the Italian club are in talks with Arsenal as they look to convince them to drop their asking price.
Arsenal want a deal north of €20m before agreeing to let the midfielder leave and Torino are keen to spend less money on Torreira.
It has been claimed that the Serie A outfit are prepared to guarantee a fee to Arsenal by including an obligation to buy clause.
Torino coach Marco Giampaolo wants the midfielder in his squad and the Uruguayan is also keen to work with his former Sampdoria coach.
The Italian club are hopeful that Torreira is prepared to wait for them to work out an agreement with Arsenal.