AC Milan signed De Ketelaere for €35m last summer, beating Leeds United to his signature, but the Belgian has failed to live up to his billing at the San Siro.
The Serie A giants are said to be open to offers for the player and several teams are already interested in signing him.
Aston Villa are pushing to take De Ketelaere to the Premier League but he also has interest from the Netherlands.
However, they now face further competition as, according to Dutch daily the Eindhovens Dagblad, PSV have put in an enquiry to assess the possibility of signing the Belgian.
The Dutch giants are worried about losing Xavi Simons in the ongoing transfer window.
De Ketelaere has been identified as a potential replacement and they have put in an enquiry for him.
However, they have not moved much beyond it as Simons is yet to take a decision about his future.
A move for De Ketelaere will only materialise if PSV lose their star man in the current window.
But De Ketelaere is not keen to leave AC Milan after just one season and wants to fight for his place in the squad.
