There's emerging buzz suggesting that the Japanese automotive behemoth, Toyota, might be eyeing a comeback to Formula 1.

Reports hint that Toyota, which exited the F1 scene in 2009, could be considering a partnership with the small, but recently revitalized, Haas team as its entry point back into the sport.

Nico Hulkenberg, set to join Audi's Sauber team next season, praised Haas' recent steps forward, notably their new upgrade package unveiled at Silverstone.

He remarked that Haas is on the brink of breaking into the top five F1 teams.

"The update really did something to the car, and I genuinely think we're in the fight to be fifth-fastest now with Aston (Martin) sometimes, sometimes Alpine, sometimes some others maybe," Hulkenberg observed.

"I think we're there and I think we can hang on to that now," he added.

It's widely accepted among F1 insiders that Esteban Ocon, who will definitely leave Alpine, will take over Hulkenberg's spot at Haas next season, partnering with newcomer Oliver Bearman in a move that could be confirmed shortly.

"Yeah, it's going well at the moment on that side for me," Ocon stated.

"So I hope in the next couple of races I'll be able to speak more about it."

Regarding the Haas-Toyota speculation, one scenario reportedly being considered is a branding partnership similar to the former Sauber-Alfa Romeo arrangement, with potential for further expansion.