HITC Sport understands Premier League and Championship interest is mounting in the Exeter youngster.
Watkins has been a revelation for Exeter this season enjoying a purple patch in front of goal in the final few months of the campaign.
The 20-year-old scored eight goals in a 10-game spell between March and April which saw him win the Football League's Young Player of the Month award for March.
Watkins also hit the headlines with a goal of the season contender with a stunning winner in his side's victory over Devon rivals Plymouth at the start of April.
Watkins' exploits for Exeter have unsurprisingly not gone unnoticed among clubs higher up the football pyramid with scouts from a host of Premier League and Championship clubs keeping tabs on his progress this season.
Premier League club Bournemouth are big admirers of Watkins and Cherries boss Eddie Howe has shown in the past he is not afraid to give lower league players the chance to step up to the Premier League.
Championship duo Derby and Brentford are also weighing up moves for Watkins as they see the exciting attacker as a future star in the making.
Exeter are reluctant to lose Watkins, but are bracing themselves for offers for their prized asset this summer with clubs ready to firm up their interest in Watkins.