HSV have placed a €500,000 transfer valuation on Tolgay Arslan according to the German newspaper Bild.
Besiktas and Trabzonspor have been closely linked with the 24-year-old in recent weeks with the Black Eagles thought to be leading the chase.
Arslan’s contract with Hamburg runs out at the end of the season and he will be enter to enter direct talks with other clubs if he does not renew his current deal.
Arsenal as well as Lazio, Napoli and Galatasaray have all been closely linked with the assiduous midfielder.
The Germany and Turkey U20 international moved to Hamburg from Dortmund in 2009 on a free transfer.
Arslan can represent either Turkey or Germany at international level but has vowed to play for the Crescent-Stars.
The 24-year-old would not be effected by the foreign player ruling due to being of Turkish heritage. Arslan would be permitted to play as a domestic player were he to join the Black Eagles or Trabzonspor.