Trincao joined the Midlands club from La Liga heavyweights Barcelona last summer on a season-long loan deal.
Wolves have an option to make the winger’s move permanent post this season for £25m, but they will have to pay Barcelona £5m as a loan fee if they decide to let him return to Spain.
Trincao has struggled to establish himself as a key player under Wolves boss Bruno Lage this term, but he registered his first goal and assist in the Premier League in their 3-2 loss against Leeds United on Friday.
However, according to Portuguese daily Record, the 22-year-old is attracting serious transfer interest from his homeland as both Benfica and Sporting Lisbon are keen on snapping him up in the summer.
The Primeira Liga duo are both keen on signing Trincao on a temporary basis in the forthcoming window.
If Wolves opt to not keep the Portugal international in their ranks beyond this season, his parent club Barcelona will assess all his options in the summer and coach Xavi Hernandez will have the final say on his future.
It remains to be seen whether Trincao will leave Molineux at the end of this season and return to the Camp Nou, where he has been on the books since the summer of 2020.
