Dost is one of the better strikers in the Bundesliga and was in superb form in the recently concluded 2014-15 season.
The 26-year-old scored 16 goals and created 15 chances in 21 Bundesliga appearances, helping Dieter Hecking’s side finish second in the league table.
The Netherlands international had a pass accuracy of 65% and a shot accuracy of 69%, and won 84 headers, four dribbles and 11 tackles.
Dortmund, who endured a disappointing campaign and finished seventh in the Bundesliga, are interested in signing Dost.
Blow for Newcastle United?
This will come as a blow to Premier League outfit Newcastle United, who are also reported to be keen on securing the services of Dost.
Wolfburg will play in the Champions League next season, which means that Dost may not be inclined to move to Newcastle, who narrowly avoided relegation from the Premier League at the end of the 2014-15 campaign.
With Dortmund now entering the race, it will be even tougher for the Magpies to sign the former Heerenveen star.
Dortmund are a huge club in Germany and are entering a new era. Moreover, Dost knows what the Bundesliga entails and will get a chance to play with some of the best players in Germany if he joins Thomas Tuchel’s side.