The Uruguay international made the move to Old Trafford from Penarol in 2020, and he has represented the 20-time English champions on 25 occasions, but he is yet to score a goal and has only provided two assists.
Pellistri spent the second half of the 2023-24 campaign on loan at Granada, scoring twice in 15 La Liga appearances, before returning to Man United over the summer.
The 22-year-old was used off the bench in the Community Shield last weekend, with the forward surprisingly being introduced at right-back, but he was not in the squad against Fulham in the Premier League on Friday night.
Pellistri is down the pecking order when it comes to the attacking spots in Erik ten Hag's first XI, and he is expected to move on before the summer transfer window closes for business.
Pellistri 'closing in' on Man United exit
According to transfer expert Fabrizio Romano, Panathinaikos are in 'advanced talks' with Man United over a deal for Pellistri.
Romano claims that a move is not finalised, but discussions are progressing well, and a transfer could be completed in the early stages of next week.
Pellistri's arrival at Man United in October 2020 came as a surprise, and he has found it difficult to make his mark for the 20-time English champions.
The attacker is a 26-time Uruguay international and proved to be an important player for his country at the 2022 World Cup and 2024 Copa America, but he has not been able to show his best form at club level.
Which other players could leave Man United this month?
There will be departures at Old Trafford before the end of the month, with Christian Eriksen expected to leave, as the Denmark international is down the pecking order when it comes to the midfield spots.
Victor Lindelof is another player being strongly linked with a departure, and it would not be a surprise to see the Sweden international move on before the transfer window closes.
Jadon Sancho, meanwhile, was left out of the squad against Fulham, and he is another player being linked with an exit.
The futures of the likes of Casemiro and Scott McTominay have been called into question, but as it stands, it appears that the pair will be staying, in addition to Antony, with Man United struggling to find a buyer for the struggling Brazilian.