Paz has been on the club's radar since his time with Castilla, the reserve team of Real Madrid.
Spurs are reportedly preparing to make a significant offer for the young player, with a transfer fee of around €60 million being discussed.
The club is in need of an attacking midfielder, following a series of setbacks, including the failure to sign Morgan Gibbs-White from Nottingham Forest and the injury to James Maddison.
Additionally, Dejan Kulusevski will be sidelined at the start of the season, requiring Tottenham to seek alternative options, with Nico Paz emerging as a potential solution.
