Elias has come to prominence with Corinthians in the Paulista State Championship this season, and he starred in their 2-1 victory over Sao Paulo in the semi-finals on the weekend.
The midfielder has demonstrated the necessary quality to warrant a European move, and Italian Serie A sides Roma and Fiorentina are reportedly fighting for his signature.
According to the Brazilian press, two unidentified English clubs have also shown recent interest in the player.
Having been signed by Corinthians in the second semester of 2008, Elias helped the side gain promotion to the Brazilian top flight.
Despite a tremendous amount of talent in the Corinthians squad this season, which includes the likes of former FIFA World Footballer of the Year Ronaldo, as well as Douglas and Dentinho, Elias has managed to standout.
The rights of Elias, 23, are partly owned by two investment groups, as well as by the player. This could make an eventual transfer all the more complicated.
Julio Moriz, the executive vice-president of Traffic, one of the investment groups, rejected claims that the player could move to Europe in the near future, stating that he will remain at Corinthians until the end of his contract in 2011.
Elias' former clubs include, Palmeiras, Juventus (Brazil), Nautico and Ponte Preta.
Gregory Sica, Goal.com