Saints boss Mauricio Pochettino is expected to bring in a number of new faces in the summer as he bids to make his own mark on a Southampton side he inherited from previous manager Nigel Adkins.
It has been suggested that Pochettino is keen on 24-year-old Erazo, who currently plays for Barcelona FA in his homeland.
Premier League champions Manchester United have been linked with the defender in the past but a move failed to materialise and Southampton appear to be the frontrunners to secure a deal if they firm up their interest with a concrete move in the summer.
Pochettino has also been linked with defenders Davide Astori and Jesus Gamez of Cagliari and Malaga respectively in the last few days, while Manchester City misfit Scott Sinclair has also been mooted as a potential Saints target.
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