The 23-year-old Nigerian moved to the Primeira Liga side from Santa Clara last August, signing a five-year deal for a fee believed to be in the region of £3.6m.
This term the left-back has gone on to feature 35 times for Sergio Conceicao's title-chasers, scoring twice and helping them to win the Portuguese Super Cup just before Christmas.
This season has also seen him break into his country's senior squad, appearing in three matches of Nigeria's Africa Cup of Nations qualification campaign and chipping in with an assist.
According to Own Goal Nigeria, Wolves have been monitoring Sanusi's progress closely this season and have registered their interest in a possible move this summer.
Reports of Porto's valuation of Sanusi vary, with The Sun suggesting that the club could accept a fee of around £8m, while another says that he would be available for around €20m (£17.4m).
Wolves are in the market for several reinforcements this summer after a relatively-underwhelming campaign that sees them sit 12th in the Premier League table with just six games remaining.
The club finished seventh in the league and reached the FA Cup semi-finals in 2018-19 following their promotion as Championship champions, while last term they also finished seventh and made it through to the quarter-finals of the Europa League, where they were beaten by eventual winners Sevilla.
Nuno Espirito Santo has been forced to deal with the loss of key players to either injury or sales this campaign however, with leading scorer Raul Jimenez ruled out for much of the season after a sickening head injury and the likes of Diogo Jota and Matt Doherty being sold.
The club has a strong trading relationship with Porto, meanwhile, having spent a club-record fee of £35m on teenage striker Fabio Silva last September and also bringing in Ruben Neves and Willy Boly from the side over the last few years. body check tags ::