The Italian news outlet claims that Real Madrid are likely to exercise their buy-back clause this summer, only to sell him on for a profit with Leicester among those looking to bring him in.
The Spain international striker came through the youth ranks at Madrid, but a struggle to break into the first-team prompted a switch to Juventus in the summer of 2014.
Morata has since improved greatly as a player in Turin, helping the club win two Serie A titles and ironically scoring the crucial goal to knock out Madrid in the semi-finals of the 2015 Champions League.
The 23-year-old has become a leading striker in Europe, and La Liga giants Madrid are reported to be looking to profit on his rise by activating his buy-back clause only to immediately sell him on for a much bigger fee.
Juventus are expected to try and secure him on a long-term deal this summer, but the report in GianlucaDiMarzio states they have competition from newly-crowned title winners Leicester.
Claudio Ranieri is said to be a big fan of the striker, and will look to pair him alongside Jamie Vardy next season.
Morata has scored 26 goals since moving to Turin, also interesting Italian giants Napoli and Inter Milan, according to the report.