The 22-year-old is hot property and is expected to leave PSV in the summer transfer window despite planning to soon sign a new contract with the Eindhoven club.
Gakpo is to extend his deal until 2026, something which means PSV should be potentially able to bank a record transfer amount when he is sold.
According to Dutch magazine Voetbal International, Gakpo has held exploratory talks with both Liverpool and Manchester City, as he eyes a potential move.
Despite the talks, the winger has decided nothing yet and is determined to take his time to make a careful decision.
Bayern Munich showed keen interest in Gakpo before the start of this season, but appear to have now been pushed out of the way by the two Premier League giants.
Gakpo progressed through the youth ranks at PSV before exploding onto the first team scene, while he won his first cap for the Netherlands last year.
This season so far Gakpo has scored ten goals and provided eleven assists for his team-mates.
Gakpo’s agents have long spoken to various technical directors at top European clubs as his next move is carefully planned.