Tottenham are targeting a move for highly-rated Real Sociedad winger
He has also been linked with Serie A giants Juventus and Inter, and Spurs could face a battle to secure his signature.
Oyarzabal has excelled when playing for the Spain Under-21 side, enough to earn him a cap for the senior national team.
Should Spurs succeed in their pursuit, it could raise further questions over the future of Erik Lamela, who is still battling to recover from a long-term injury.
Oyarzabal, a technically-gifted and intelligent wide player, shares similar traits to the Argentine, and could arrive as a potential replacement.
He joined Sociedad from hometown club Eibar in 2011, before returning on loan in 2013. He has since emerged as a key player in