The 21-year-old is considered to be one of the most exciting prospects in South American football at the moment, and has caught the eye with his displays in the Portuguese top flight this season with four goals and three assists.
The Colombian international’s style of play has been compared with Lionel Messi and Diego Maradona, and he could be one of several of Porto’s best players to leave the club this summer.
Liverpool have already shown a strong interest in the skillful attacker, and Real Madrid are now supposedly in the hunt for his signature as well as the summer transfer window approaches.
The Spanish giants are likely to make some changes in attack next season with doubts over the futures of the likes of Angel Di Maria and Isco, who could make way for some younger blood.
Another Porto starlet, Juan Iturbe, has also been linked with Real and a host of other top clubs.