The 20-year-old made the move to Atalanta from Sturm Graz last summer, and he impressed during his first season at the Italian club, scoring 10 goals and registering four assists in 34 appearances.
Man United are said to be pushing to sign the forward during the summer market, with Red Devils head coach Erik ten Hag believed to have identified him as his leading target in the final third of the field.
The 20-time English champions are thought to have already failed with cash offers of £30m and £40m for the Denmark international, while a recent report claimed that the club had seen a player-plus-cash offer turned down by the Serie A club.
There have previously been suggestions that Atalanta value the youngster at £85.4m, but it is believed that a deal could be done for less than £60m.
According to Italian journalist Fabrizio Romano, Hojlund remains 'on top' of Man United's attacking shortlist, with the striker keen to make the move to Old Trafford this summer.
However, the transfer expert claims that PSG have also made an enquiry, with the French giants also admirers of the former Copenhagen youngster.
Hojlund scored five goals in 32 appearances for Copenhagen before making the move to Sturm Graz, where his strong form earned him a switch to the top flight of Italian football.
Atalanta are in a strong position when it comes to the striker's future, with his contract having another four years left to run, but they would not be in a position to turn down a big-money bid from a European giant.
Man United have also been linked with Tottenham Hotspur's Harry Kane and Napoli's Victor
Read on sportsmole.co.uk