Goncalves has struggling since moving to Forest on loan.
The 21-year-old moved to Championship side Forest in the summer on loan from Benfica until the end of the season, with high hopes surrounding the player after making 13 senior Benfica appearances prior to his move.
But it has simply not worked out or Goncalves, with the likes of Ben Osborn and Joe Lolley starring in Karanka's starting line-up. The 13-time Portugal Under-21 international has managed just six appearances for Forest.
He has failed to make the Forest squad since October, last featuring in the Carabao Cup in which he played all 90 minutes of his side's 3-2 loss to League One side Burton Albion.
The report claims Benfica are likely to bring him back to Portugal this month, and will be looking to throw him out on loan again but to a team that can promise the attacker more first-team football.
It remains to be seen if such a move will occur in the coming days, as the January transfer window begins to hot up. Goncalves is one of four Portuguese players in the squad, along with Tobias Figuerido, Joao Carvalho and Gil Dias.