The former Serbian U21 international has struggled to make an impact in Spain following his 2019 move from Benfica.
He made just two La Liga appearances in 2019/20, and he is yet to feature for Diego Simeone’s side so far this season.
According to reports from Diario AS, Simeone wants to move him on next month, with Marcos Llorente and Angel Correa now both ahead of him as attacking options.
Valladolid are rumoured to be on the hunt for a new striker in 2021, after netting just 11 league goals this season, with last season’s top scorer Sergio Guardiola managing just one goal so far.
With both parties seemingly open to a potential deal, Atletico will take a loss on the 23-year old, with an offer of €300,000 set to be accepted by Los Rojiblancos.