During the January window, Spurs failed with an approach for Hojbjerg, who at the time had 18 months remaining on his contract at St Mary's.
With the Denmark international showing little interest in penning fresh terms, it leaves Southampton in a position where they will have to consider offers for the 24-year-old.
According to Football Insider, Spurs hope to tempt Southampton into accepting a part-exchange deal involving Walker-Peters.
The full-back, who does not feature in Jose Mourinho's plans, is currently on loan at the South Coast outfit, making one start in the Premier League before football was suspended due to the coronavirus pandemic.
Although Southampton will likely prefer a cash offer, they may consider the suggestion if Walker-Peter impresses during the closing games of the campaign. body check tags ::