According to a report in the Daily Record, Aberdeen are keen on signing May on a season-long loan deal, and have already approached Stuart Gray concerning the transfer.
May, 22, only arrived at Hillsborough last summer from St. Johnstone, but he has struggled to truly adapt to English football.
Signing for the Championship club as something of a free-scoring forward - with 27 goals in 49 games last season - May has only found the back of the net nine times this term.
Admittedly he is playing for a side who lack real attacking efficiency, and chances have been hard to come by for May, but his debut season in England has not lived up to expectations.
With him doing little to impress for the Owls, Aberdeen have shown an interest in signing May on a season-long loan deal next term, as they look to mount a serious title challenge with Celtic.
Aberdeen boss Derek McInnes has reportedly already approached the Owls concerning the transfer, and he is confident that he can entice May to Pittodrie, with the striker set to drop down the pecking order at the club following the takeover.