MacDonald has not made a first-team appearance for Swansea for two years and has undertaken several loan spells at Yeovil Town.
The Glovers are reportedly keen on a permanent deal, but League One rivals Bournemouth are currently favourites to land the 23-year-old.
"We have had an offer from Bournemouth for Shaun," Swansea boss Brendan Rodgers told the Evening Post.
"I have spoken to him and to (Bournemouth manager) Lee (Bradbury), and Shaun now has some time to think things over.
"He is a terrific boy but unfortunately he hasn't had a lot of opportunities here.
"He has a big decision to make now - it has to be right when you leave your hometown club.
"He needs to go and play for the sake of his career, but of course it needs to be the right club he goes to."