Speaking after the 1-1 draw with Tottenham, the Canaries manager confirmed that an offical approach for the Argentine hitman, who has notched 19 goals in 21 Championship outings this season, made been made.
The 29-year-old is set to follow the footsteps of former Leeds players Bradley Johnson, Jonny Howson and Robert Snodgrass in exchanging Elland Road for Norfolk, with Steve Morison set to move in the opposite direction.
"The clubs are in discussion and that is one I hope gets done,” Hughton told reporters in his post-match press conference.
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Hughton has completed a deal for Sporting Kansas striker Kei Kamara, subject to obtaining international clearance, with the Sierra Leone international moving on an initial loan switch with a view to a permanent deal.
Celtic boss Neil Lennon also confirmed that the Bhoys have knocked back a staggering three bids for the prolific Gary Hooper, but Hughton has not given up hope on landing the former Scunthorpe man.
"With Hooper everyone knows where we are with him," he added.
"We have put in bids that have been turned down [by Celtic]. That is their prerogative. He is a very important player for them. Whether anything else happens, I don’t know.
"Do I think there will be any other business done? I don’t think so. The striking department was the most important one so I don’t expect anything else to happen apart from the ones we are looking at.”