The Turkish giants have confirmed in a statement that they are in talks to bring the out-of-favour Atletico Madrid player back to the club he left in the summer
The Turkey international left the Sukru Saracoglu last summer for Diego Simeone's side but has been out of favour with the second-placed Liga club for much of the season, and had been rumoured to return to Turkey this month.
NTV Spor claimed on Tuesday night that the Atletico midfielder will sign a two-and-a-half-year contract, and the Istanbul club have confirmed that they are negotiating a deal.
"Talks have begun regarding the transfer Atletico Madrid footballer Emre," a statement to the Turkish stock exchange read.
Emre, a former Inter and Newcastle United player, started life in Madrid well but his starts have become more sparse, and he has been more of a feature in the club's European games than in Primera Division matches.
Fenerbahce's historic rivals, Galatasaray, have been impressively this transfer window, signing Wesley Sneijder from Inter and Didier Drogba from Shanghai Shenhua.