Koelnische Rundschau reports that the Greek side are looking to strengthen this summer and are looking to bring in the 31-year-old forward.
The Greek side have already signed Ariel Ibagaza, Dennis Rommedahl, Albert Riera, Jean-Alain Boumsong and Jose Holobas this summer.
Reports claim Koln could be ready to sell Novakovic for around €2million.
