Barcelona are reportedly working on a deal to bring Chelsea forward Willian to Camp Nou next year, which could involve Malcom heading the opposite way.
The Spanish champions were strongly linked with the Brazilian attacker during the summer and allegedly held talks with his representatives.
Chelsea managed to keep hold of the 30-year-old but, according to Spanish outlet La Sexta, Barca have not given up hope of landing one of their long-term targets in 2019.
Malcom was brought in from Bordeaux for £36.5m after the Catalans missed out on Willian, but the France international has failed to impress so far, featuring just twice from the bench.
The report indicates that Barcelona are already willing to cut their losses, with a cash sum also being offered to Chelsea.
