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The former Liverpool player wants to return to England and sign for an ambitious club where he can play regularly.
The 29-year-old, who is also attracting interest from teams abroad, will decide his next club before this weekend.
Coutinho has made 16 appearances in all competitions for Barcelona this season and is under contract at the Nou Camp until June 2023.
The Brazilian is the Spanish giants' club-record signing after he joined from Liverpool for £146m in January 2018.
But Coutinho, who has scored 28 goals in 105 games for Barca, has struggled to make an impact for the La Liga side, where he has won four major trophies.
He spent the 2019/20 campaign on loan at Bayern and won the Champions League, the Bundesliga, and the German Cup under Hansi Flick.
Follow the January transfer window with Sky Sports
Who will be on the move in January?
The January transfer window opens on Saturday January 1, 2022 and closes at 11pm on Monday January 31.
Keep up-to-date with all the latest transfer news and rumours in our dedicated Transfer Centre blog on Sky Sports' digital platforms. You can also catch up with the ins, outs and analysis on Sky Sports News.