West Brom are seemingly willing to sell the former Wigan wide man.
Burnley's David Jones (R) in action with West Brom's Callum McManaman
The Baggies are chasing QPR's Matt Phillips as one possible replacement for McManaman according to that report, with Rickie Lambert, Cristian Gamboa and Sebastien Pocognoli also set for an exit.
West Brom's Rickie Lambert is also set to leave the club
And with West Brom keen to offload the 25 year old winger, Derby look set to swoop for the former FA Cup winner.
Nigel Pearson has yet to bring in any new faces at the iPro this summer, having taken over the job at the beginning of the month.
No signings as yet for Derby's Pearson
Derby were reportedly keen on McManaman back in December of last year, according to the Derby Telegraph, however West Brom were reluctant to part company with the former Everton trainee.
McManaman has however only featured intermittently for West Brom, making just eighteen league appearances since arriving at the club from Wigan in 2015 for a fee thought to be in the region of £4.75 million.
Callum McManaman during his time at Wigan
He made much more of an impression for the Latics, however, scoring 17 goals in his 109 appearances for the club.
McManaman was manager Tony Pulis' first signing at West Brom, and he will hope to recoup what he paid for him, should the player depart the Hawthorns.