Los Blancos were linked with a move for Cavani in the final days of the summer transfer window after failing in their attempts to secure a deal for PSG superstar Kylian Mbappe.
However, the two parties ran out of time to seal a move, and Cavani remained at Old Trafford.
According to reports from EL Nacional, club president Florentino Perez is expected to remain the driving force behind a push for Cavani as a stop gap cover this season.
Perez is confident of agreeing a move for either Mbappe or Erling Haaland next summer and six month loan for Cavani would provide key back up.
However, Carlo Ancelotti remains open minded on a possible move, due to his confidence in his current attacking options.
If Ancelotti agrees, Perez will try again for Cavani at the start of 2022, with the Uruguayan struggling for playing time at the Premier League giants following the return of Cristiano Ronaldo.