According to the Sun, Villa are showing an interest in the 20-year-old who has scored 23 goals and provided three assists in his 40 games across all competitions for Porto.
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Aghehowa was heavily linked with a move to Chelsea last summer before ultimately joining the Portuguese giants.
Porto are said to be open to selling the striker if an offer of around £50 million comes in with several Premier League sides interested.
Villa’s interest in Aghehowa comes after Rashford, who joined Villa on loan in January, is said to be married to the idea of joining Barcelona instead of joining permanently.
Ollie Watkins has also been linked with a move away from Villa Park after seemingly fallen out with Unai Emery.