The Dutch giants believe the experienced footballer would be a perfect replacement for retiring captain Mark van Bommel and are set to open talks with Sporting chiefs.
The Lions are looking to cash in on the player who has just one year left on his deal at Estadio Jose Alvalade and at the same time get him off the payroll.
Stijn Schaars recently revealed that he was ready to leave Sporting in the summer and a return to Dutch Eredivisie appears on the cards.
The former Netherlands international had played for Vitesse and AZ Alkmar before joining the Portuguese giants in the summer of 2011.
Schaars has since made 37 league appearances for the club and scored 3 goals, but in turn lost his place in the national team, and is probably hoping a return to the Netherlands would improve his chances of getting back into international reckoning.