Spurs are ready to pay £17m for the Netherlands international but the Catalan giants are looking to secure a fee closer to £20m.
Barca have informed the Dutchman that he is free to leave the club this summer at the right price.
The report adds that the Blaugrana have deemed the 28-year-old winger to be surplus to requirements following the arrival Robert Lewandowski and Raphinha at Camp Nou.
Tottenham have discussed a £17m offer for Depay but Barca are holding out for a fee closer to £20m.
Depay’s opinion on a move to north London is unknown but the attacker would be joining a new-look Spurs team with six summer signings already.
Depay has scored 12 goals in 28 appearances in La Liga last season.