The Peruvian signed for Bayern Munich from Alianza Lima in 2002, but played only two full seasons for the German giants in the Bundesliga before moving to Hamburger SV in 2006.
Now at Corinthians, the 30-year-old is keen to return for one more crack at European football, and has apparently welcomed any offers from the Premier League.
A source close to Goal claims; "Paolo is aware of interest from England and is keen to pursue it."
Both Sunderland and QPR are known to be in the market for a centre forward, and a deal for Guerrero could prove convenient for both clubs respectively.
The Ajax forward was expected to join the R's over a week ago, but progress in the deal appears to have stalled.
Meanwhile Sunderland have been left frustrated over a possible deal for Fabio Borini. The Black Cats had a £14 million offer accepted by Liverpool over a fortnight ago, but an outcome is yet to be reached.
Doubts also remain over the future of Connor Wickham. The 21-year-old turned down a contract extension last month and with only one year left on his current deal, Poyet is worried he may have to sell the striker.
Sam Allardyce has recently paid big money for a striker, signing World Cup sensation Enner Valencia for a around £12 million last month. Out of the three clubs reported to be interested in Guerrero the 59-year-old is likely to be the manager acting with the least urgency, but with Andy Carroll ruled out for up to four months - the Hammers boss may well be keen to bring one more forward to Upton Park.
Guerrero has been by no means prolific in Brazil netting just 15 times in 45 appearances, but with time running out between now and the beginning of the Premier League season, his years of experience at the top level could be enough to secure a move to England's top flight.