The Buccaneers have identified the commanding central defender as their top transfer target during the current Transfer Window as they look to bolster their defence.
The latest reports have indicated that Wits are now resigned to losing their key defender with Pirates having intensified their interest in the South Africa international.
Cape Town City centre back Robyn Johannes and Maritzburg United central defender Denis Weidlich have both signed pre-contracts with Wits, while defender-come-midfielder Edwin Gyimah recently joined the Braamfontein-based side from Swedish outfit Helsingborg.
It is said that Wits are now looking to negotiate the early release of Johannes and Weidlich with the Clever Boys having struggled in the PSL this season.
When contacted by Goal, Wits general manager George Mogotsi could not deny or confirm that the 28-year-old player is likely to move to Houghton-based Pirates this month.
"No, I don't know anything about that (Hlatshwayo's possible transfer to Pirates)," Mogotsi told Goal.
"But we are now happy with our defence. Hlatshwayo is still our player," he concluded.
An enticing offer could tempt the Clever Boys to sell their most prized asset to Pirates this month if Weidlich and Johannes join the reigning Telkom Knockout Cup champions earlier.
Nicknamed Tyson, Hlatshwayo is a self-confessed fan of the Buccaneers. He extended his Wits contract until 2019 earlier this year.