The 26-year-old spent the second half of last season on loan at Sevilla, but the Frenchman found it difficult during his brief spell at the Ramon Sanchez-Pizjuan Stadium, recording just one goal and one assist in 12 appearances across all competitions.
Martial has since endured an injury-hit start to the new campaign, but he recently returned to first-team action on Sunday and came off the bench to score twice in United's 6-3 defeat against rivals Manchester City.
According to Todofichajes, Sevilla are keen to reunite with Martial in January, with the forward open to seeking pastures new away from Old Trafford in a bid to relaunch his career.
Sevilla have made a poor start to their 2022-23 La Liga campaign and they currently sit just one point above the relegation zone in 17th place, after accumulating only five points from their opening seven games.
The report claims that Sevilla would be in pole position to sign Martial if he decided to leave Old Trafford, but the forward is not convinced about working under head coach Julen Lopetegui for a second time.
Meanwhile, Valencia - who sit five points and eight places above Sevilla in the table - have also been credited with an interest in Martial, who has less than two years remaining on his Red Devils contract.
The report adds that Gennaro Gattuso is keen to bolster his attacking options in the New Year and believes that Martial fits into his first-team plans.
A potential switch to Valencia for Martial would see the forward link up with former United striker Edinson Cavani, who joined Los Che on a free transfer over the summer.
Martial has made a total of 271 appearances for United across all competitions during his seven-year spell at the club, scoring 81 goals and registering 51 assists.
The France international will now be hoping to build up his match fitness and work his way back into Erik ten Hag's starting lineup having now recovered from an Achilles injury.
Elsewhere at United, Martial's teammate Cristiano Ronaldo continues to be linked with an exit from Old Trafford, and a recent report claims that he is free to leave the club in January.
The 37-year-old, who is out of contract in June 2023, has struggled for regular game time under Ten Hag this term and he watched on from the substitutes' bench in the defeat at Man City last weekend.