Kroupi, 19, has had a remarkable season at Bournemouth, scoring 13 goals in his 33 Premier League games, the most from a teenager in their debut season.
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According to German outlet Merkur.de, Bayern are keen on the youngster as they seek to ease Diaz’s workload next season.
The Bundesliga champions are understood to be prioritising a new forward and were previously interested in Anthony Gordon.
Gordon has since secured a move to Barcelona, however, meaning Vincent Kompany’s side are looking for alternatives.
Bournemouth are reluctant to sell Kroupi this summer and will demand a minimum fee of €80 million, with other Premier League sides also keen.