Zarate has benefitted somewhat from a number of injuries to key players in the early stages of the campaign, as the likes of Enner Valencia, Dimitri Payet and Andy Carroll have had fitness issues.
With those now coming back into contention, the Argentine forward’s chances of regular first-team football have decreased and that has led to speculation over this future.
According to AS, Malaga have stated an interest in his services and Zarate is keen on joining the Spanish outfit.
“Malaga are interested in West Ham United’s Mauro Zarate. He is keen on moving, but in order to do this he must reach an agreement with the London club before negotiating a deal,” the report states.
Zarate has scored three goals for West Ham this season and offers boss Slaven Bilic versatility, having featuring both as a centre-forward and in a wide role over the past few months.
The former Lazio man joined the club in 2014 and had a short stint at Queens Park Rangers last season, making just four appearances without finding the back of the net.
With competition for places at Upton Park strong, Zarate could bet set for a surprise January exit.