The 25-year-old striker netted 19 goals for Sagan Tosu in their debut J1 season and is seen as a potential replacement for Nicolas Anelka, who is rumoured to be leaving China
The Chinese club's offer comes as they begin looking to replace former EPL star and French international Nicolas Anelka, whose highly-anticipated arrival was a flop after he recorded just three goals in 22 appearances.
In Sagan's first year in the J-League's first division, the 25-year-old Toyoda exploded for 19 goals in 33 appearances, second in the league behind Hisato Sato of Sanfrecce Hiroshima. The Kyushu outfit finished an impressive fifth in the league standings, recording the best-ever finish for a first-time J1 side.
Shenhua, owned by wealthy businessman Zhu Jun, have reportedly offered Toyoda a yearly salary of €750,000, far above his estimated yearly wages of €110,000 with Sagan. The 185-centimetre striker could pair up effectively with Shenhua's Didier Drogba, who unlike Anelka appears set to stay at the club.
Despite the signings of Anelka and Drogba, Shanghai Shenhua finished ninth in the CSL, hovering dangerously close to relegation during the season.