The 19-year-old has been linked with a January departure from Carrow Road, after earning admirers in the Premier League and further afield.
According to Sky Sports News, the right-back is wanted by Bundesliga giants Dortmund.
However, they are likely to face competition from a long line of clubs that includes Tottenham, Arsenal, Everton, West Ham and RB Leipzig.
Most of those sides are believed to prefer the option of completing a deal in the summer, rather than during the mid-season window.
But Spurs are considering a January bid to jump to the front of the queue and Norwich are understood to be willing to sell for a fee of around £30 million.
Aarons has been with the Canaries since joining the club academy in 2016, and played a big part in helping them win the Championship title last season.
The England Under-21 international has made 19 appearances for Daniel Farke’s side this season in the top flight.
Norwich are bottom of the table, seven points from safety, and they travel to Manchester United next on Sunday.
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