The 33-year-old playmaker is currently without a club after leaving Inter Milan, and he revealed last week that he is not short of offers from big European clubs.
It is understood that’s Spurs are one of the interested parties, as new boss Mauricio Pochettino plots to add his first new name to the Lilywhites’ squad.
The Argentine boss is attracted to his compatriot’s vast experience and big game know-how, which he believes could play a vital role in getting the Londoners back into the top four.
Cambiasso spent 10 years at Inter after joining them from Real Madrid, and has long been considered as a top class midfield orchestrator.
Although no longer an international player, the veteran is famous for a wonder goal at the 2006 World Cup – where he applied a fine curling finish to a 25-pass move from the South Americans against Serbia and Montenegro.
Spurs finished sixth in the Premier League last season, and Pochettino is rumoured to have been been tasked with securing Champions League qualification.