Valencia Plaza reports that Martinez is keen to bring in Guardado in a move to strengthen his attack.
Porto were close to signing the Mexican international during transfer deadline day.
Martinez signed the likes of James McCarthy, Romelu Lukaku and Gareth Barry near the end of the transfer window, but the Toffees are ready to bring in more players in January.
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Liverpool have unveiled their new home kit for next season, sticking with the hugely popular retro styling of the current shirt.
The reputation of the Premier League means it is the most popular and one of the most watched leagues in the world.