West Ham youngster Oxford has long been linked with a return to Gladbach.
The 20-year-old is struggling at West Ham under Manuel Pellegrini, with the Chilean boss preferring new signings Fabian Balbuena and Issa Diop, while Angelo Ogbonna is considered first reserve.
Even prior to the summer signings of Diop and Balbuena, Oxford was out of favour at the London Stadium and had move to Gladbach on a season-long loan last summer - a deal sanctioned by Slaven Bilic.
Oxford returned to West Ham in January at the request of David Moyes, and made three appearances in January but was allowed to finish his loan in Gladbach. He last appeared for West Ham on January 30.
It seems that the England youth international, who has 17 senior Hammers appearances to his name, has little future in east London and a move is likely to be struck in the January window.
Now, a return to Gladbach is seemingly on the cards, with the German club bidding just over £10million to land the impressive defender who is known most for his man-of-the-match debut against Arsenal as a 16-year-old under Bilic.
It remains to be seen what West Ham's response is to the eight-figure bid, but with Pellegrini hardly using Oxford, such an offer is likely to be considered by the Hammers hierarchy.
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