Tiago's father and agent has admitted the Juventus midfielder would be interested in joining Atletico Madrid.
The Portugal international has fallen down the pecking order at Juve this season and has been tipped to move on during the transfer window.
Atletico Madrid are also looking to strengthen their squad after an indifferent first half to the campaign and Tiago is reportedly a target.
A switch to Vicente Calderon would reunite Tiago with his compatriot and former Benfica team-mate Simao Sabrosa.
And the player's representative Carlos Mendes hopes a deal can be pushed through this month.
"We spoke about this possibility and Tiago is happy," he told Spanish newspaper AS.
"He would be really pleased to come back and play with Simao and I think he would represent the right solution for Atletico's midfield."