The Scottish international is believed to be surplus to requirements under manager Paul Lambert, and has been loaned to Championship side Nottingham Forest this term.
This has led to speculation that he will be allowed to leave the club this month if he can find a willing suitor.
Real Mallorca are reportedly interested, and are keen to take him on a temporary basis with a view to a full transfer this summer.
Talks are at an advanced stage, with the Spaniards setting a deadline of early next week to have a deal tied up.
Hutton is open to the prospect of playing abroad and would relish the opportunity to play regular football at the highest level.
The 28-year-old started his career with Rangers, where he was dubbed as one of the rising stars of Scottish football.
Tottenham swooped for his signature in 2008, but he failed to match expectations at White Hart Lane.
He was loaned to Sunderland two years later, before completing a permanent switch to Premier League rivals Aston Villa in 2011.
Despite his below par domestic form, he has won 28 caps at international level and is keen to remain a part of the Scottish international set-up.