The 27-year-old outlined his intention to leave Spurs following six years with the club last month when he said he was keen to try something new amid reported interest in him from Real Madrid.
Spurs are keen to hang onto Eriksen such is his importance to Mauricio Pochettinos side, however, their position has been compromised due to the Dane having just one year left on his contract.
Real Madrid have been considered the front-runners for Eriksens signature for some time with Juventus also rumoured to be suitors, but it now looks as though Atletico could move ahead of them in the race to buy him.
Atletico Madrid are in the midst of a major rebuilding project having lost a number of key players including Antoine Griezmann, Rodri, Diego Godin and Lucas Hernandez.
Although Atletico have raised approximately £280m from player sales this summer, Diego Simeone has reinvested around £175m on Joao Felix, Marcos Llorente, Felipe, Hector Herrera and Renan Lodi.
Nevertheless, the Argentine is keen to add creativity to his midfield and sees Eriksen as the ideal candidate to improve his side further.