Poyet is one of a number of managers touted as a possible replacement for Brian McDermott, who was sacked last week.
It is understood contact has been made with the 45-year-old Uruguayan, who has experience of working on the staff of a Barclays Premier League club following a spell as Juande Ramos' assistant at Tottenham.
Poyet has previously been open about his desire to coach in the top flight, although he may elect to resist any approach from Reading with his current side in the npower Championship play-off shake-up.
Reading owner Anton Zingarevich is believed to be in England to finalise a new appointment, having shown McDermott the door following a recent home defeat to Aston Villa that left the club mired in the relegation zone.
Paolo Di Canio and Nigel Adkins have also been linked with the vacancy, although the latter has no interest as he plots his next move following his departure from Southampton.
Whoever Zingarevich opts for, the Royals still have a chance of beating the drop, according to captain Jobi McAnuff.
"No one's giving up," the midfielder told club website readingfc.co.uk.
"We're got eight massive games left now and it doesn't matter who we've got, we'll show our pride and see if we can pick some results up.
"For us it's about believing that we're good enough to be here. We really do believe that - we're here on merit."
Source: PA
Source: PA