A report by Sky Sports transfer market expert Gianluca Di Marzio has linked Lukaku with a trade for Icardi as Inter Milan look to move on from the controversial front man.
Inter manager Luciano Spaletti stripped Icardi of the captaincy and exiled him from the team for two months this season as his standing among his team and fans has sunk to an all time low.
the Argentinian's €110 million (A$174 million) release clause has so far made it hard for the Neazzuri to find a suitor for his signature and Di Marzio has claimed Inter Milan view a straight swap deal as the only way they will be able to find a new home for their troubled striker.
PSG was intially viewed as perfect trade partners by Inter, however a proposed trade for striker Edinson Cavani has seemingly been scuppered by the Uraguayan's mammoth €12 million per-year wages opening the door for United and a move for Lukaku.
Lukaku has added fuel to the rumours by telling Sky Sports Italia he has always wanted to test himself in Italy's top tier.
"Playing in Serie A is a dream, it would be really a dream,” Lukaku said.
"I hope to be able to play sooner or later,
Lukaku has scored 15 goals for United in all competitions so far this season but has fallen behind Marcus Rashford as the Red Devil's first choice striking option since Ole Gunnar Solskjaer took the reins at Old Trafford.
Manchester United signed Lukaku from Everton in 2017 for £75 million (A$137 million).
