Nunez was left out of Al-Hilal's squad when the club signed Karim Benzema in January, and he has since been linked with a move away as he tries to find regular game time.
In his 143 appearances for Liverpool, he scored 40 goals before being sold to make way for Alexander Isak and Hugo Ekitike in the summer transfer window.
He is reportedly on a £400,000 per-week wage with All-Hilal and has scored nine goals in 24 appearances so far after being out of the side by manager Simone Inzaghi.
As reported by The Sun and Chronicle Live, the Uruguayan has been linked with Chelsea, Newcastle and Tottenham as he eyes a shock Premier League return once the season is over.
GOAL state that all three sides view Nunez as a high-upside gamble whose raw pace could work well in a new tactical environment at each of the clubs.
Nunez, 26, is now expected to be made available when the transfer window opens this summer and if he does return to the Premier League, it won’t be with his former side Liverpool who may be nervous to come up against him.
Al-Hilal are currently three points off the top of the Saudi Pro League as they chase down Al-Nassr in the title race without Nunez who is deemed surplus to requirements.