The Villarreal midfielder has spent the last two seasons on loan at the Liberty Stadium, and the manager says negotiations with the player's agent are ongoing ahead of the new term
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Monk is keen on ensuring the midfielder returns to south Wales - with the player himself confirming his desire to stay at the club in May - and has revealed talks have taken place with De Guzman's representative.
"Behind the scenes we are talking to his agent and monitoring the situation," Monk told the BBC.
"[He is] somebody that we are definitely looking at.
"He's done well for us in the past. I don't want to bombard him with phone calls and texts.
"I want him to concentrate on what [the Netherlands] are doing because they are doing well."