The 30-year-old forward is yet to appear for Manchester United in the English Premier League this season.
It is understood Inter boss Antonio Conte wants to sign Sanchez before the European transfer window closes on Monday.
Inter have already signed Romelu Lukaku from United for £74m this off-season, with the Belgian netting in a 4-0 win over Lecce on the weekend.
Sanchez left Arsenal for United in January last year but has only managed five goals in 45 appearances.
The Chilean is believed to be the highest paid player currently on United’s books for approximately £400,000 per week.
Sanchez’s potential new club Inter finished fourth in Serie A last season and will compete in the UEFA Champions League.
Meanwhile, the Red Devils finished sixth in the Premier League and will only compete in the Europa League this term.