The 28-year-old, who plays for Atletico Nacional in his homeland, is a mainstay of the Colombian midfield with over 30 caps to his name.
Torres would qualify for a work permit given Colombia's current world ranking of seventh.
A number of English sides are now studying Torres, knowing that he has a release clause of less than £2million.
New Everton boss Roberto Martinez is believed to be a fan, whilst West Brom, Crystal Palace and Hull are all said to be taking a keen interest.
His British representative Dan Chapman of Full Contact told Sky Sports: "Macnelly is a tremendous player, he just has not had the attention of many of Colombia's bigger stars - but he is now very much on the radar of a number of clubs.
"Whilst he may be 28 he still has some great years ahead of him, and we think he will be a star in next year's World Cup supplying the ammunition to Falcao and Jackson Martinez.
"He is, and we are, very hopeful he will be playing Premier League football before the end of the transfer window."