The Scottish Premier League side could be forced to sell their star striker with the suspension of football due to coronavirus having severe financial implications for several clubs.
The 23-year-old has managed 29 goals in all competitions, his highest goal tally since joining the club in 2017.
The Colombian is well-known for his poor disciplinary record but he has made improvements this season with only two red cards after picking up five last season.
And he is thought to be on the radar of Leicester and West Ham who are both in the market for a new striker, according to The Sun.
The Foxes are looking for a long-term replacement for Jamie Vardy while West Ham also want a new forward to partner Sebastien Haller.
Brendan Rodgers is also thought to be looking at Lille striker Victor Osimhen.
But the Nigerian striker would likely cost around £60million making Morelos a more affordable option.
The Hammers have also been linked with ex-Sunderland forward Josh Maja who is currently plying his trade at Bordeaux.
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