The Canadian side have already signed former All Blacks star Sonny Bill Williams in a mega-deal that will make him the highest-paid player in the history of both rugby union and rugby league according to another report.
Now the club want to sign Tuilagi to further bolster their ambition to become a global sporting brand.
Manu Tuilagi turned down a big-money move to French Top 14 club Racing 92 earlier this year and re-signed with the Leicester Tigers until June 2021.
Toronto have looked to add some serious firepower to their squad with former England centre Ben Te’o, who won 18 England caps under Eddie Jones, also remaining on their radar and it is believed that Toronto have had contact with representatives of both players.
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The Wolfpack would be required to pay a sizeable fee to sign Tuilagi however, new rules were introduced two years ago to allow Super League clubs with sufficient funds to bring in players from outside rugby league without it affecting the wage cap.
Sonny Bill Williams has reportedly agreed to the biggest contract in the history of both rugby union and league 💰✍️ https://t.co/mxPeMDd3PD— Ultimate Rugby (@ultimaterugby) November 6, 2019