Roca, 23, has established himself as a star player at the RCDE Stadium and was heavily linked with a move to Bayern Munich last summer.
A report in Fichajes.net insists that Los Blancos want to sign a midfielder to supplement Casemiro – their most used player this campaign and Roca would tick the boxes.
His contract contains a €40m release clause – significantly more affordable than any likely asking price for Camavinga, whose club side have secured Champions League qualification for next season.
A star at Under-21 level with Spain, it is widely thought that Roca will be a part of the senior national team in the coming years and he has started 24 league games for Espanyol this season.
However, his club remain at the foot of La Liga and the possibility of relegation is playing a part in clouding his future in Catalonia.