Villas-Boas is in charge at Chinese club Shanghai SIPG.
He’s got cash to splash and is ready to lodge a £60m offer for Brazil international Oscar, The Telegraph report.
They add Oscar is open to a switch to the Far East.
He’s struggled for match action under Antonio Conte this season and the midfielder is now said to be up for a change.
Villas-Boas already has two Brazilians on the books in Shanghai.
Former Porto and Zenit St Petersburg striker Hulk is at the club along with countryman Elkeson.
And Oscar would add more star quality to their line-up.
Rival Chinese clubs Jiangsu Suning and Guangzhou Evergrande are also said to be keen on Oscar.
Jiangsu signed Ramires from Chelsea in January this year, while Guangzhou are managed by another ex-Stamford Bridge boss in Luiz Felipe Scolari.
Oscar hasn’t started a Premier League game for the Blues since the 2-1 defeat to Liverpool in September.
He’s made just 11 appearances in all this term.