The Portugal attacker, 19, signed with Sporting Lisbon last summer in a deal rising up to £7m.
He rejected a five-year contract extension from the Reds.
Now Premier League clubs are hoping to bring the 19-year-old back across to England.
Football.Insider claims Spurs are leading the race for Camacho's signature.
The report claims a source at the North London that said Camacho is interested in a rapid return to the Premier League.