According to FC Inter News, Tottenham and West Ham are set to go head to head over the player's services, as he is deemed surplus to requirements at Barcelona.
The Brazilian had spent the second half of last season on loan at Inter, who had a €35m option to make the loan permanent - though it's understood the Italian club are not interested in enacting that clause.
The Italian side are instead looking to bring Belgian midfielder Radja Nainggolan to the club, meaning the Brazilian looks set to move to London and the Premier League next season.
Tottenham are understood to be in pole position to sign the versatile playmaker after Inter dropped out of the race.
The north London club have reportedly been given permission by Barcelona to enter talks with a player, who is valued at £30m.
However, Spurs have competition from a perhaps unlikely source when it comes to signing players from top clubs like Barcelona - West Ham.
Having hired Premier League-winning manager Manuel Pellegrini, and recently breaking their transfer record for Issa Diop, the club are investing heavily in the team ahead of a significant push next season.
As such, a significant outlay on a hallmark player like Rafinha is not overly unrealistic.
The 25-year-old Brazilian has two senior international caps for his national team, and has scored one goal.
After failing to get game time with parent club Barcelona in the first half of the season, where he managed just 15 minutes in one Copa del Rey match, Rafinha made 17 appearances in Serie A for Inter - scoring two goals and providing three assists.
Born in Sao Paulo, Rafinha represented Spain at early youth international levels, before switching allegiances to Brazil.
Rafinha's older brother - Thiago - plays for Bayern Munich and the Spanish national team, representing the country at the World Cup this summer in Russia.