Forest brought in Chuba Akpom and Modou Barrow on loan from Arsenal and Swansea City respectively after star striker Britt Assombalonga was ruled out until next season, but neither have made much of an impact in Assombalonga's absence.
That has contributed to Forest's recent poor run of results, and manager Dougie Freedman will be looking to strengthen his attacking options this summer.
In fact, before signing Akpom from Arsenal, Forest made a bid to sign Blackburn Rovers striker Rhodes, only to be rebuffed by Gary Bowyer's men.
Now though, with the summer transfer window approaching, the Daily Mail believe that Forest will renew their interest in Rhodes in another attempt to lure him to the City Ground.
The Scottish international, 25, has hit 71 goals in 140 games this for Rovers, including 18 goals this season as he continues his reputation as one of the Championship's most deadly strikers.
Yet with Rovers again sitting in mid-table, Rhodes may want to move to a club with firm aspirations of a promotion bid - and that's certainly what Forest will be aiming for next season.
It's certainly ambitious given that the Daily Mail report that Rhodes is valued at around £10m, be maybe we will now see how much owner Fawaz Al-Hasawi is willing to spend this summer - whilst it may also suggest that Forest's transfer embargo will be lifted sooner rather than later, given that they are only able to currently bring in loan players.