Ever since initially making a loan switch to Stadio Olimpico in August 2019, Smalling has been regarded as a key man at the Italian giants.
A total of 146 appearances have been made in all competitions, the former England international chipping in with 10 goals and four assists.
The 33-year-old also has a Europa Conference League winners' medal in his collection, but this campaign has proven to be frustrating for the centre-back.
Having started the opening three games in Serie A, Smalling has been sidelined through injury, and Roma are reportedly ready to move on from the veteran.
In recent days, it has been reported that Jose Mourinho is open to securing a deal for out-of-favour Chelsea defender Malang Sarr, who can play on the left-hand side of his back three.
That is said to be a reaction to the club's injury issues in that area of the pitch, but there is said to be a willingness to do business involving Smalling.
According to Gazzetta dello Sport, Roma are ready to assess any offers that may come their way for the former Manchester United man.
With Smalling having recently been linked with a move to Saudi Arabia, an opportunity could arise for him to make the switch to the Middle East.
Roma may theoretically feel that they may be able to generate an inflated fee for a player who is towards the back end of his career and has just over 19 months left on his contract.
The report adds that teams from the Saudi Pro League are also admirers of Leonardo Spinazzola and Paulo Dybala, although Roma are likely to be more reluctant to cash in on either player.
As a result of Roma sitting in seventh position in the Serie A table, Mourinho is seemingly open to generating some leeway when it comes to FFP and wages.
Chelsea's Trevoh Chalobah and Arsenal's Jakub Kiwior have also been linked with a transfer to Roma in January.