The 25-year-old attacking midfielder joined West Ham last summer on a big-money move from French outfit Lyon.
Last season, Paqueta featured a total of 41 times for the Hammers and helped them win the Europa Conference League.
The Brazilian midfielder has attracted attention from Manchester City and they are keen on acquiring his signature.
The Cityzens have already been in with an offer to try to sign Paqueta, but it has not turned West Ham’s head.
However, Paqueta is interested in joining Pep Guardiola’s side and is aware that West Ham will sell for the right price, according to Sky Deutschland.
Paqueta has an £85m release clause in his contract, but it does not become active until next summer.
West Ham have already banked £105m from selling Declan Rice to Arsenal this summer and do not need to compromise on Paqueta’s price.