The 22-year-old has emerged as a potential target after making an impression in Ligue 1, with Atlético reportedly keeping a close eye on his situation.
Coulibaly is under contract with Monaco until 2028 and is valued at around €20 million.
His performances have also attracted interest from England and Italy, with Brentford, Newcastle United and Napoli reportedly tracking the midfielder.
Atletico Madrid are expected to prioritise additions in midfield and Coulibaly has consequently emerged as an option for Diego Simeone's side.
Monaco remain in a strong negotiating position because of the player's long-term contract, while competition from Premier League clubs and Napoli could also influence any potential deal.
For now, Atlético's interest remains at the monitoring stage as they assess their options for upcoming transfer windows.