The Hammers have long been linked with a move for Olsson, as Sam Allardyce knows him well from his time in charge at Blackburn.
The 24-year-old has never hidden his desire to move back to the Premier League following Rovers' relegation and now he could get that chance with the Hammers.
Sky Sports understands that after talks, West Ham lodged a bid over the weekend and now Blackburn are considering the offer.
Rovers are still managerless following Henning Berg's dismissal last month - but the Hammers are hopeful the Championship club will agree to the deal.
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