Spurs are rumoured to be ready to axe their club record £30m signing after less than 12 months, with a move back to Italy being mooted.
It is understood that Inter are among the sides ready to meet the £20m price-tag Tottenham have slapped on the Argentine, but The Londoners may look to use him to get Guarin.
The Colombian midfielder was linked with a host on English sides over January, with Spurs one of the names believed to have been in the mix.
New White Hart Lane chief Mauricio Pochettino is thought to be ready to overhaul his midfield options, and could be tempted by the commanding central player.
Inter are known to be big fans of Lamela, which may allow for a straight swap, or a part cash deal.
The South American attacker arrived as a part of the Lilywhites’ £110m spend last summer, and was dubbed as Gareth Bale’s replacement.
However he managed just a handful of displays – most of which came in the Europa League – spending much of the season sidelined with a back injury.