Spurs have been following the Argentina international since his time with Castilla - Real Madrid's reserve team.
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Paz is preparing for a second season with Como and the Daily Mail says Spurs are readying a €60m offer for the youngster.
After being blocked by Nottingham Forest from signing Morgan Gibbs-White and losing James Maddison to an ACL injury, Spurs are in desperate need for an attacking midfield addition and Paz fits the bill.
Dejan Kulusevski is also out for the start of the season, after knee surgery in May, leaving Tottenham management aiming to open talks with Como for Paz.