The Hammers parted company with manager Sam Allardyce just minutes after losing 2-0 to Newcastle United on the final day of the season, meaning co-chairmen David Gold and David Sullivan must now look for a successor this summer.
The Telegraph are now reporting that West Ham have identified Sevilla's Emery as a prime target to replace Allardyce, with the highly-rated Spaniard in demand this summer.
The 43-year-old recently won the Europa League with Sevilla for the second year in a row, but could now leave the Andalusian side in the coming weeks.
The report states that whilst Emery is a target for Napoli as they look to replace compatriot Rafael Benitez, West Ham will hold talks with the former Valencia boss later this week - and are ready to break the bank in order to lure him to Upton Park.
The Telegraph also suggest that the West Ham board have no concerns over Emery's inability to speak fluent English, and are even comparing him to Tottenham manager Mauricio Pochettino in that he could learn English on the job just as Pochettino did at Southampton.
It would certainly be an ambitious appointment from West Ham if they could land Emery, but they face stern competition for him - and may need to really open the chequebook to bring him to East London.