Traore has electrified England's top-flight this season, combining his immense ball-carrying ability with end product.
He's scored four goals and assisted a further seven for Wolves in the Premier League so far this season.
Wolves have put a £75m price-tag on Traore in anticipation of summer bids for the player, according to French outlet SoccerLink.
The Spanish player of Malian heritage has caught the eye of the league's top clubs and their managers.
Jurgen Klopp showered praise on Traore following Liverpool's 2-1 win at Molineux last week.
"He is unplayable in moments, it's unbelievable," the German coach said.
"What a player – it's not only him but he's so good."
Pep Guardiola has also commented on Traore's ability, referring to his pace as unstoppable.
"He is a motorcycle! It’s almost impossible," Guardiola remarked.
"Nobody can handle this pace."
The product of Barcelona's world-renowned La Masia academy has both Liverpool and Manchester City chasing his signature, according to the SoccerLink report.
The Reds are reportedly keen to refresh their attacking options for next season and see Traore as the perfect new lease of life.
City, meanwhile, could be looking for a replacement for Leroy Sane should he move to Bayern Munich in the summer.
The league's top two teams from last season are joined by Chelsea and Manchester United in the race for Traore's signature.
Tottenham Hotspur were also thought to be in the hunt, but their pursuit of PSV's Steven Bergwijn may alter their course.
Wolves feel confident they hold all the power in any future sale of Traore, as his contract runs till 2023 and the club aren't desperate for funds.
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