The club have informed the 22-year-old that he can leave the club on loan in January.
The Bhoys signed Morgan from St Mirren last January, and sent him on loan for the rest of the season. Although he scored 18 goals last season, he has barely featured for Celtic this term, managing only 13 games.
Morgan needs regular game time, something Celtic cannot provide him at the moment. A loan move away from Parkhead suits all parties involved.
Aberdeen and Nottingham Forest are showing keen interest in signing the Scotland international.
Forest are now managed by ex-Celtic boss Martin O’Neill, and playing in the Championship could prove to be tempting for the midfielder.
Hull City are also in the race and boss Nigel Adkins recently praised the young midfielder. He is all set to leave Celtic on loan, but his next destination remains unclear.