The Daily Mail says the 20-year-old is highly rated among Spain's top clubs but, like Cesc Fabregas and Fran Merida before him, is thought to favour a move to Arsenal.
However, a buyout clause of £12million could prove a stumbling block with Arsene Wenger only willing to offer half that figure for the Spain Under-21 international.
The player himself is aware of his growing reputation around Europe.
"I know of rumours linking me with other clubs, but I have yet to speak with anybody," he said earlier this season. "At the moment, I can only concentrate on working with Osasuna and progressing my football."