The 23-year-old made 21 appearances in all competitions for Jackett’s men last season, but finds himself out of the picture ahead of their return campaign in the Championship.
Davis is now expected to depart the club this summer with one year remaining on his current deal at Molineux, and Jackett admitted that the Tykes look the most likely to secure his services.
"There is and has been some interest in him," Jackett told the Express and Star.
"Barnsley are the strong contenders after expressing an interest in Dave and they’ve been talking to Kevin Thelwell.
"It’s ongoing, clubs are talking to us but nothing has been agreed as yet. Possibly it would be a loan until Christmas.
"He trained with us on Monday and we were expecting him to play last night at Telford. But as it stands at the moment there is nothing agreed."