The 20-year-old spent the last 18 months on loan with La Liga side Alaves but he struggled for regular game time and started only 11 of his 35 appearances in all competitions.
Pellistri has, however, impressed at international level with Uruguay this year, starting five of his six appearances and registering three assists.
According to the Manchester Evening News, Ten Hag is looking to integrate Pellistri into his first-team plans for pre-season before making a final decision on his future at the club.
The report adds that Pellistri is desperate to gain regular first-team football in 2022-23, but that may not be guaranteed at Old Trafford and he could be loaned out again this summer.
Pellistri, who still has three years left on his contract, joined the Red Devils from Uruguayan outfit Penarol in 2020 and he is yet to make a senior appearance for the club.