The Bavarians have already brought in Robert Lewandowski, Sebastian Rode and Juan Bernat this summer but coach Pep Guardiola is keen to add some more firepower to his attack and is rumoured to have earmarked 25-year-old Reus as the perfect signing.
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"The transfer window will remain open for a few more weeks," he told TZ. "We have to deal with this fact wisely. Maybe we won't do anything but perhaps we will make some more signings...
"We already have a certain amount of players at our availability at the moment but let's not forget that we did not win the Bundesliga title after the 2006 and 2010 World Cups."
Reus has a contract with Dortmund until the summer of 2017 but has a limited fee release clause believed to be at €35 million (£27.7m).
However, BVB will be desperate to hold on their star attacker after previously losing Mario Gotze and Lewandowski to their arch-rivals.
The German champions have also been linked with a move for Colombia international Juan Cuadrado, currently under contract with Fiorentina.