Drexler is the latest attacking midfielder to be linked with a move to Newcastle, who Teamtalk reports have entered the race to sign Josh Brownhill from Bristol City.
And their Premier League status could leave them in the driving seat to land the 27-year-old, ahead of Aston Villa and Cardiff, who it is claimed have "extended their feelers".
A former youth team player at Bayer Leverkusen, Drexler signed for Holstein in summer 2016 and has helped them to promotion and the top of Germany's second tier in the space of 18 months.
According to Kicker, his displays have brought loose requests from Bundesliga clubs, but the English interest is "more concrete".
Newcastle are unlikely to have significant funds available in January, assuming they remain under Mike Ashley's ownership, and it's plausible that a move for Drexler, who has scored or made 15 goals in 18 games this season, would fit within the Magpies' budget.
Aston Villa and Cardiff City, who are fifth and second in the Championship respectively, are also likely to have one eye on their purse-strings after heavy spending in recent campaigns.
Should Newcastle /Aston Villa / Cardiff City move for Drexler this winter?