The Dutchman's contract with Lyon is set to expire at the end of the season, which means he will become a free agent this summer.
According to Oriol Domenech, Memphis Depay's representatives were spotted in Barcelona fifteen days ago and were negotiating a Camp Nou transfer for their client.
Memphis Depay made a move to Lyon in January 2017 after a dismal stint with Manchester United. He has managed to rejuvenate his career since joining the Ligue 1 club.
The 27-year-old has scored an impressive 74 goals in 173 appearances for Lyon in all competitions and helped them to the semi-finals of the Champions League last season. He has scored 20 goals in 35 games in all competitions this season.
Memphis Depay reportedly wants to move to one of Europe's top clubs as he approaches the peak of his powers. He was reportedly desperate to make a move to Barcelona last summer.
The former Manchester United star was keen to reunite with former Netherlands coach Ronald Koeman at Barcelona, but the deal failed to materialize.
Barcelona are eager to make use of his current contract situation with Lyon and sign him on a free transfer this summer. Ronald Koeman wants to sign a forward who will share the goalscoring responsibilities with the likes of Lionel Messi and Antoine Griezmann.
Barcelona could sign Memphis Depay on a free transfer rather than spend big money on Erling Haaland
Due to their current financial situation, Barcelona could be forced to scrap their plans to sign Erling Haaland from Borussia Dortmund this summer.
The Catalan giants have a massive debt, believed to be worth €1.2 billion, and will look to the free-agent market to sign some top-quality players in the upcoming transfer window.
Barcelona will, therefore, focus on trying to sign the likes of Memphis Depay and Sergio Aguero, who are available for free this summer.