The Chelsea forward has emerged as a target for Unai Emery's side.
Villa have already made two signings this month, with the additions of Donyell Malen and Andres Garcia.
talkSPORT's Ben Jacobs says Villa are one of several clubs exploring a deal for Felix before deadline day on February 3.
Chelsea are understood to be open to offers for the 25-year-old, who re-joined the club permanently from Atletico Madrid in the summer.
However, a potential move to Villa Park could be prevented by interest in another Blues star.
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Villa have already agreed terms with Axel Disasi and would only be able to sign one of the pair on loan during the current window.
A loan move is said to be most likely for the French defender, who is also wanted by Wolves.
Meanwhile, Villa's talks over Felix have yet to lead to an official offer being made.
The Portuguese international penned a deal until 2030 with the option of a further year after his £43million summer arrival.
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Felix has since scored seven goals and added two assists in 20 appearances across all competitions under Enzo Maresca.
Just three of those have been starts in the Premier League, though.
As for Disasi, he has not started any of the Blues' last four league matches, despite injuries to Wesley Fofana and Benoit Badiashile.
Instead, the former Monaco man finds himself behind Levi Colwill, Tosin Adarabioyo and Trevoh Chalobah in the pecking order.
Disasi could now ease Emery's injury concerns at centre-back after Tyrone Mings was forced off with a knee injury against West Ham on Sunday.
The injury leaves Ezri Konsa as Villa's only fit first-team player in the position, with Pau Torres already ruled out until March.