The 23-year-old has started just six Premier League games this season and is keen on securing more playing time, and would be open to a return to Gelsenkirchen
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Goal exclusively revealed earlier this month that Holtby was seeking clarification over his role in the team under Tim Sherwood, with Schalke keen on bringing their former player back to the Bundesliga.
And Marcus Noak, Holtby's agent, has confirmed that the former Germany Under-21 international is keen to secure more game time - whether in north London or elsewhere.
"Lewis is desperate to play, which is why we are looking intensively for solutions," Noack told Bild. "Schalke is an interesting option."
Holtby, who has started just once under Sherwood in Spurs' 1-1 draw with West Brom, has scored three goals in 38 appearances in all competitions for Tottenham.