Another club are said to have entered the race for the Tottenham Hotspur player.
The 30-year-old looks likely to move on after disappointing since his big-money arrival from Valencia in 2013.
Since then, Soldado has scored just 16 goals in 76 appearances for Spurs and along with Emmanuel Adebayor he looks anything but the striking solution Tottenham manager Mauricio Pochettino needs to support Harry Kane.
The O Jogo report claims Benfica have already made contact with Tottenham regarding Soldado but that they would prefer to take the Spaniard on loan rather than sign him permanently.
With a contract until the summer of 2017 now would be the ideal time to sell the player rather than allowing his contract to head into its final year, when his price-tag would drop considerably.
Benfica are by no means the only club said to be interested in signing the player but it would be an interesting alternative to a return to La Liga.
At this stage of his career, the latter option seems the most likely, but hats off to Benfica for trying to bring in a player who still has plenty to offer if he can rediscover the form that has eluded him at Tottenham.