The defensive midfielder nicknamed ‘spiderman’ has just a year remaining on his contract with the Istanbul giants and has yet to put pen to paper on a new deal.
Manchester City have long been linked with the Turkish international and were interested in singing him back in 2011 while he was at Valencia.
Topal will make a decision regarding his future at Fenerbahce by the end of the month according to Eurosport TR. Fenerbahce are understood to be preparing a bumper five-year-deal for the 29-year-old.
Topal provided four assists and four goals in 41 appearances for Fenerbahce in all competitions this season.
Fenerbahçe finished the league season as runners up and booked a place in the Champions League play-off stages.