Local media in Cordoba, where the midfielder was born, are suggesting that Pastore's agent Marcelo Simonen is currently finalising a deal for his client to move to Old Trafford.
The Red Devils would be willing to pay €40 million [£34.37m] for the 21-year-old, according to Radio Event.
Rumours previously suggested that Sir Alex Ferguson would make his move for the in demand Rosanero star, despite officials of the Sicilian club making it clear that Pastore was a key member of the squad.
United, however, will have a battle on their hands from Barcelona, who travelled to Italy to discuss a verbal agreement with Palermo to unite Pastore with fellow countryman Lionel Messi. But no signed agreement was made by the Blaugrana officials, leaving United free to pursue their target.
Pastore joined Palermo in 2009 and his performances were rewarded with a place in the Argentina squad in the 2010 World Cup.