Cardiff boss Neil Warnock is keen to bring in the experienced wide man before the close of the transfer window on Tuesday as he looks to add to his attacking options.
Feeney joined Blackburn on a free transfer last summer after running down his contract at Bolton Wanderers.
The 30-year-old has struggled to nail down a starting place in Owen Coyle's side so far this season, making just ten starts in the Championship.
Oldham's Lee Croft in action with Blackburn Rovers' Liam Feeney
The former Bournemouth and Millwall man has made 24 appearances in total for Blackburn, but he was not in the squad for Saturday's FA Cup win over Blackpool at Ewood Park.
Warnock is a big admirer of Feeney and feels he could prove a valuable addition to his squad for the second half of the season.
Blackburn are keen to keep hold of Feeney as they battle to avoid relegation from the Championship, but Cardiff are ready to test their resolve by making a firm offer for the player.
Blackburn Rovers' Liam Feeney (L) in action with Newcastle United's Jesus Gamez