Upson has yet to make his senior debut for Tottenham's first team, despite being highly regarded within the club's academy ranks.
According to the report, a move to bitter rivals Arsenal is among the possible destinations being considered, with the Premier League champions showing interest in the teenager.
Arsenal manager Mikel Arteta is said to be keen on the 18-year-old as the club continues to look at young defensive talent across the academy system.
Upson is the son of Matthew Upson, who earned 21 caps for England during a playing career that included spells at Arsenal, West Ham and Birmingham City.
The family connection to Arsenal adds an additional layer of interest to any potential move, though the teenager's path through Tottenham's academy means any switch would be viewed as a significant statement given the rivalry between the two clubs.
Upson's situation reflects a broader trend of young academy players moving between London's leading clubs as they search for clearer pathways into senior football.
Should the move materialise, Upson would join an Arsenal squad coming off the back of a Premier League title-winning campaign, offering him a clear marker of the level he would need to reach to break into Arteta's first-team plans.
For Tottenham, losing a promising academy product to a direct rival without receiving any transfer fee would represent a frustrating outcome, though the club's focus this summer has largely centred on incoming rather than outgoing business at first-team level.
Upson's development will continue to be closely watched regardless of which club he ultimately joins, given the pedigree of his father's playing career and the early promise he has shown at academy level.