The 28-year-old attacker has contributed six goals and four assists in eight appearances for the Hammers since arriving on loan from Manchester United in January.
The Reds are in the market for a new centre-back after losing both Fabinho and Joel Matip to fresh injuries in recent weeks.
Diop – who made just four top flight appearances in the 2020-21 campaign – has been limited to opportunities in recent months.
The pair have struggled to make an impact at Old Trafford this season and could allegedly be moved on by Ole Gunnar Solskjær this summer.
According to The Independent, West Ham boss David Moyes is keen to reunite with Jones and Lingard at London Stadium, having worked with them during his stint as Man United coach.
Manchester United are ready to pounce for the West Ham United midfielder Declan Rice by making a £70m bid in January, according to The Daily Mirror.
The Red Devils could be set to make a huge £70m bid to try and sign the England international in January.
The 20-year-old is being linked with a big-money move to Old Trafford as manager Ole Gunnar Solskjaer looks to revamp his squad in the mid-season window after their poor start to the new season left them in 12th place in the table.
Liverpool have reportedly stepped up their interest in signing West Ham United attacker Felipe Anderson, according to The Daily Mail.
The 26-year-old, who joined the Hammers from Lazio last summer, contributed nine goals and four assists in 36 Premier League appearances during the 2018-19 season.