Lo Celso, 27, joined Spurs permanently from Real Betis in 2020 after spending a season-long loan spell at the London side.
He was subject to interest from his former club Real Betis in the summer transfer window but the Spanish outfit failed to bring in him despite holding negotiations with the Lilywhites.
Tottenham wanted between €15m and €20m for Lo Celso and were not prepared to consider sending him away on loan.
He is though on the fringes of Ange Postecoglou’s plans and Real Betis are watching the situation closely.
Real Betis will look to try to sign Lo Celso in January if they have enough money and Tottenham are prepared to let him go, according to Spanish daily AS.
Lo Celso is currently recovering from a hamstring injury which has curtailed his on-field minutes this season.
The Argentine has still two years left on his contract at Spurs, but is keen to find a club where he can become a key man.
And it is suggested that the longer Lo Celso goes without securing a regular spot in the Tottenham team, the more open Spurs will be to letting him go.