HITC Sport understands Cardiff City are lining up a move for the Dutch winger.
Bluebirds boss Neil Warnock is desperate to add to his side's attacking options after suffering a slump in form over the Christmas period, and he has targeted a move for Wildschut.
Cardiff have lost their last four Championship games and Warnock believes Wildschut's arrival could help spark an upturn in fortunes and get their promotion bid back on track.
Wildschut has found himself out of favour at Norwich this season, just 12 months after his arrival from Wigan Athletic.
The 26-year-old has made just 13 league starts for the Canaries since his arrival at Carrow Road and he has found himself playing a bit-part role in Daniel Farke's first-team plans.
Norwich are now willing to let Wildschut leave on loan for the second half of the season with a view to a permanent deal.
Wildschut is now set to become the second high-profile departure from Norwich this week with midfielder Alex Pritchard poised to join Premier League side Huddersfield Town.