According to Promoter.com, Nottingham Forest have entered into advanced talks with Monaco's Martins.
The signing could be the first signing for new Nottingham Forest manager Nuno Espiritu Santo at the City Stadium and will also see him join forces with another fellow Portuguese.
Martins has been completely excluded from the squad by Monaco boss Adi Hout and has not featured for almost a year.
The winger's last start came against Auxerre on 1 February and has been unavailable since with a groin injury.
Although Martins' pre-season campaign has been further hampered by injury, his exclusion from the squad in recent months was the decision of manager Hut.
According to Portugal's Maisfutebol, the player is in advanced talks with Forest and has six months left on his contract.
Monaco would rather let him leave in January for a transfer fee, even if it is only symbolic, than let him leave for free when his contract expires.
Martins made his mark at Sporting Lisbon in the mid-to-late 2010s, before Atletico Madrid spent €22 million (£19 million) to bring him to Atletico Madrid.
However, after failing to make an impact in the Spanish capital of Madrid, Martins was loaned to Monaco six months later and made a permanent move the following summer.
Martins signed a five-year contract with the club and achieved great results in the first three years of his permanent transfer.
However, injuries have taken its toll on him even though he has played a lot, and his status has gradually declined over the past two seasons.
Despite being only 28 years old, Martins still has plenty of career opportunities, and despite reports that Major League Soccer and Russian Premier League clubs are interested in his services, the winger prefers to prove himself in the Premier League.
Forest ventured to sign another winger, Callum Hudson-Odoi, who has a worrying injury history, in the transfer window this summer, but his season was disrupted by injuries, leading to Forest's re-entry into the market.
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