Sky Deutschland says Pochettino is being considered by Bayern Munich to take over as permanent manager at the Allianz Arena.
No contact has been made with the Argentine following his sacking from Tottenham, but he is understood to be high among their list of candidates for the vacant role currently being filled by interim boss Hansi Flick.
Pochettino departed Hotspur Way this week after five years in charge, guiding the club to their first Champions League final last term.
The 47-year-old has a £12.5m compensation clause in his Spurs contract and the figure is set to be paid to him in instalments.
If he is re-employed during the three to six month period of notice, those staggered payments to him from his former club would immediately cease.