The Napoli-owned winger spent last season on-loan with Everton.
According to Italian transfer journalist Matteo Moretto, Wolfsburg are now set to snap up Lindstrøm, who has been urged to find himself a new club by Napoli management.
According to Moretto, Wolfsburg wants to loan Lindstrøm initially where the agreement can be made permanent next summer.
Wolfsburg have offered €8m to take the winger on-loan this new season.
Lindstrøm is contracted with Napoli until the summer of 2028.