According to The Sun, United are considering offering the 22-year-old to Atalanta, the club they signed him from, in exchange for Ademola Lookman.
Atalanta are understood to hold Hojlund in high regard despite his ongoing issues in front of goal and would be open to taking him back.
The deal would hinge on Lookman’s desire to head to Old Trafford, however, with the Nigerian said to be keen on a return to the Premier League.
Lookman is expected to leave Atalanta in the summer, with several Premier League clubs vying for his signature.
Liverpool and Arsenal have also been linked with moves for Lookman, posing quite the problem for Ruben Amorim’s struggling side.