The Algerian is out of contract in the summer and he is refusing to pen an extension - meaning he can leave for free in July.
That has alerted clubs from around Europe and both Arsenal and Everton have reportedly held talks with the 24-year-old's agent.
However, according to L'Equipe, Monaco are prepared to rival the Premier League pair for Ghezzal's signature.
The French club want to bring in a winger and they are convinced they can persuade the Lyon man to stay in France.
As well as offers from England, Ghezzal is also thought to be attracting the interest of Napoli and sides in Germany.