The versatile defender left the Dutch capital in 2014 to go to Man Utd after impressing in the World Cup in Brazil for the Netherlands.
In the years since, he has made over 140 appearances for the 'Red Devils' in all competitions, but has become a less regular figure for the side under Jose Mourinho as he made just 7 appearances in the Premier League last season.
The Dutch international is now going in to the final year of his contract with the club, and his former team now think it would be a good time for him to return to the Johan Cruyff Arena.
"[He is] a player with a lot of experience, in the Premier League and in the Dutch national team," Ajax boss Ten Hag explained.
"He is a stable personality. Just like the arrival of Dusan Tadic, this also counts as a considerable effort of the club. We are doing everything, but it also depends on other parties."
Should Blind make the move, he would become the second player to move to the club from the Premier League, after Dusan Tadic decided to leave Southampton in a deal worth over €11 million.