The London Evening Standard reports that Villas-Boas is keen to sign the defender on-loan in January.
The £100,000-a-week defender has started only three games this season for Real Madrid and could be interested in leaving the club.
Coentrao came close to joining Manchester United on loan on the final day of the transfer window, but the two clubs failed to reach an agreement in time.
Reports claim United could also make a new attempt at signing Coentrao to a permanent deal in January.
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The start of the 2017-18 Premier League season is just around the corner and is shaping up to be one of the most competitive yet.
As always it is the so called “big clubs” that have splashed the most cash in the transfer window so far this summer. Manchester United or City? Arsenal or Tottenham? Who are the winners and losers of the transfer window so far?