The Bulgarian has struggled sine heading to the UK from Poland.
Villa snapped up Tonev in 2013 from an impressive stint in Poland with Lech Poznan. He cost Villa, as reported by the Daily Star, an apparent £2.5 million with Villa beating Werder Bremen and Celtic to his signature.
However he has struggled at the club. In his first season in the Midlands he played just 20 times, failed to score and was generally poor throughout his stay.
Last season he was sent out on loan to Celtic. He struggled in Glasgow as well, making headlines for the wrong reasons. He was banned for seven games after being found guilty of racially abusing Shaleum Logan of Aberdeen.
Sport Line in Bulgaria are reporting that Ludogorets, who recently appointed former Leeds player Bruno Ribeiro as their new head coach, are keen on bringing the player back to Bulgaria.
There is one stumbling block, wages and a fee. The Bulgarian champions are not expected to pay anywhere near the wages he currently earns or meet his asking price. With his contract not expiring until 2017, Villa are entitled not to lose him on the cheap.