The Turkish international is available at a cut-price fee.
Tottenham Hotspur are currently impressing under Mauricio Pochettino and are now looking to potentially strengthen their squad in the summer.
Malli has scored 10 goals in 27 appearances for Mainz in what has proved to be an impressive campaign for him. The former German under-21 international has even made his debut for Turkey, after switching allegiance late last year.
This week his manager has been talking about the player. Martin Schmidt stated to Kicker that the interest from big teams will be doing his player no harm:
"These are things that do him good."
The report goes on to claim that Borussia Dortmund remain keen on the player, as do Spanish outfit Valencia.
It also makes clear the fact Malli has a release clause in his current deal of €10 million (£7.9 million) which would be a bargain for such a talented forward.