The 25-year-old has enjoyed a successful five-year spell with the Scottish Premiership giants since joining the club in 2017, recording 113 goals and 51 assists in 224 appearances across all competitions.
However, the Colombia international's future is believed to be uncertain as he will soon be entering the final year of his contract at Ibrox.
According to Fichajes, Sevilla have identified Morelos as a potential target this summer, with the La Liga outfit keen to recruit a new centre-forward amid uncertainty over the future of Youssef En-Nesyrf, who has been linked with West Ham United.
Los Rojiblancos believe that they could sign Morelos for a cut-price fee this summer and the report adds that they are planning to make an opening bid worth €8m (£6.9m).
Free agent Luis Suarez, Lille's Jonathan David and Almeria's Umar Sadiq are also believed to be on Sevilla's radar, while Alexandre Lacazette was also considered before he decided to swap Arsenal for Lyon.
It is thought that Rangers boss Giovanni van Bronckhorst will look to target Sunderland striker Ross Stewart if Morelos decides leave the club this summer, while former Krasnodar forward Erik Botheim has also been linked with a move to Glasgow. body check tags ::