The 23-year-old only made the move to North London from Barcelona for around £25.8m last summer, having impressed during a two-year spell with Real Betis in La Liga.
The Brazilian initially struggled to become a consistent starter in Tottenham's starting 11, under both Nuno Espirito Santo and Antonio Conte, but would go on to make 41 appearances for the club across all competitions during his debut campaign in England.
Emerson was often preferred to Matt Doherty in the wing-back area, although the potential arrival of Djed Spence at the Tottenham Hotspur Stadium this summer has raised doubts over Conte's trust in the Brazil international as a first-choice option.
With that in mind, Atletico are interested in taking Emerson back to Spain this summer, according to Sky Sports, who report that Diego Simeone's side are keen on reigniting their long-standing interest in the defender.
The report suggests that Atletico were keen on signing Emerson last year before he opted to make the move to Spurs instead, where he signed a deal until June 2026.
Following Kieran Trippier's £12m move to Newcastle United in January, Atletico have been on the search for a replacement in the right-back area ever since, with Emerson looking to be the latest of those targets.