The Brazilian can leave Munich this summer as Carlo Ancelotti plans to shake up his squad despite winning the league by 15 points.
Bild reported that Bayern would be willing to sell Costa if the price is right - with the Bundesliga champions looking for £30million for the Brazil international.
And Sport have heightened speculation that he could be about to leave the Allianz by reporting that Barcelona are now chasing his signature.
Costa has been plagued by inconsistency this season despite making 34 appearances in all competitions for Bayern.
The 26-year-old joined for £21million from Shakhtar Donetsk in July 2015 and quickly established himself as a key player under Pep Guardiola.
Costa has been included in Brazil's squad for friendlies against Argentina and Australia
But he has struggled under Guardiola's replacement Ancelotti in 2016-17 and tellingly was left out of the starting line-up for both Champions League semi-final ties against Real Madrid.
Costa hinted that he was unsettled at Bayern earlier this season and revealed that a number of clubs had attempted to contact him - from the Premier League, Ligue 1, La Liga and the Chinese Super League.
Costa has struggled for consistency this season despite 34 appearances in all competitions
Ancelotti dismissed those comments from the Brazilian however, insisting that his player was satisfied with life in Germany.
Costa is currently away with the Brazil squad ahead of their friendlies against Argentina on June 9 and Australia on June 13.
His last goal for Bayern came in March - in a 3-0 victory over Eintracht Frankfurt.
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