Olic was a key man for Bayern Munich before his move to Bundesliga rivals Wolfsburg but his contract is coming to an end in the summer and Hughes is set to pounce.
Now 34 years old, Olic would add experience to the Stoke front line with a lack of goals a real concern for Hughes so far this season with a relegation battle now really on.
A number of clubs are expected to make a move for Olic this summer, with his work rate for the team a big attribute that could thrive in the Premier League.
Hughes knows the man he is trying to bag and has admitted that he would like to snap up the Croatian on a free.
“It is fair to say he is an interesting player – one I have faced in the past and have always been impressed with.
“There is an interest there and we’ll see how it progresses.”