The 24-year-old midfielder has shone on loan at Cardiff City, where he scored five goals and provided three assists in the Premier League this season.
However, his future rests with the La Liga club. He has a £20m release clause in his contract, but the report claims he could be available for just £12.8 million this summer.
For that price, surely West Ham must make his signing a priority in the summer transfer window, as he is the type of player Manuel Pellegrini can improve on and take to the next level.
West Ham may need surgeries in midfield next season. Jack Wilshere remains perennially injured, while Mark Noble is not getting any younger.
Camarasa can play as a proper central midfielder or as an attacking midfielder, and he has the gifted ability to create a spark in central midfield. He is such a type of player who can link defence and attack and provide an element of composure and vision needed to unlock opposition defences.
He may not represent a marquee signing, but could be a very shrewd acquisition by the Hammers, if the price is right.