Mauricio Pochettino has made the wide man available for loan ahead of Friday's transfer deadline and there is though to be significant interest in the player's homeland.
Rennes are thought to be leading the chase at present, having proposed a loan with an option to buy.
N'Koudou cost Spurs £11m when he joined the club from Marseille in 2016 but he has largely failed to force his way into the side and spent the second half of last season on loan at Burnley.
The 23-year-old has made just eight Premier League appearances for Spurs and if reports are to be believed he may never get chance to add to that tally.