It is understood that whilst Las Palmas and Málaga have expressed an interest in the 27-year-old, it is Alavés who have made a move for the Stoke midfielder.
Bojan was a marquee signing for the Premier League side when he arrived from Ajax in 2014, but his time at the Potters has been disrupted by injuries, starting just five games last season.
Meanwhile, Stoke defender Philipp Wollscheid is talking to French side Metz over a possible move.