The 28-year-old winger joined Oxford United last summer from Cardiff City on a free transfer.
Murphy featured 23 times in League One for the U’s but played a bit part role in Oxford’s campaign.
His first season with Oxford was hampered due to fitness issues and the winger took a knock during pre-season.
Murphy has entered the final year of his contract with Oxford United this season and is out of favour under new boss Liam Manning.
It has been claimed that Oxford United are set to let the 28-year-old leave Kassam Stadium this summer.
The winger has yet to make any league appearances for Oxford this season, but he featured for 33 minutes after coming off the bench during the U’s EFL Cup game against Bristol City.
Murphy has significant experience playing in the Championship and has also featured in the Premier League during his time with Cardiff City.
