Inter Milan prepared to splash out in January for Bolton defender Cahill
The Sun says Cahill was linked with a switch to Arsenal this summer but the move never materialised.
Cahill has been earning rave reviews for the Trotters and has also cemented his place at the heart of England's defence.
Bolton boss Owen Coyle has revealed the club are expecting more offers for their star defender in the New Year - and reports in Italy suggest Cahill is one of Inter's top targets.
The former Villa ace is out of contract in June and could sign a pre-contract with Inter from January 1 ahead of joining them on a free transfer this summer.
But Wanderers would prefer a cash sale and a £6million offer could secure Cahill's services.