The striker was expected to join Atletico Madrid last month, but Inter are emerging as favourites for the young Argentine.
Blanco told local radio: "Tonight I will meet the emissaries of Inter to talk about Lautaro Martinez.
"In June, possibly all year round, Serie A is a championship that the player likes, today the termination clause of his contract is less than his value.
"We will try to make sure that his transfer is the highest in the history of football in Argentina.
"There is a lot of competition between the youngsters here at Racing and in this sense Lautaro has shown his value."