Pep Guardiola has lost two key players in Ilkay Gundogan and Riyad Mahrez this summer and although City have signed Mateo Kovacic from Chelsea, they are still looking to recruit further attacking options.
Paqueta, meanwhile, impressed in his first season at West Ham following his £51 million move from Lyon a year ago.
According to GloboEsporte, City have now tabled a £70m bid for the Brazilian midfielder but West Ham are expected to reject the offer and demand a higher fee.
The report claims that Guardiola was keen on signing Paqueta last summer as a potential replacement for Bernardo Silva, but the Portugal international ended up staying at City.
In an interview with Betway Brasil last week, Paqueta named the Etihad Stadium as his favourite ground to play at in his first season in the Premier League.
And when asked which players impressed him, Paqueta replied: ‘Bernardo Silva and [Kevin] De Bruyne.
‘By the way they see and understand the game. The intelligence in the passes, knowing when to speed up the game and hold on longer. Ease of finding passes. I think I identify with them.’
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