According to the UK Mirror reports, the Spanish outfit is keen on signing the Arsenal striker so as to fill the gap Barcelona-bound Griezmann left open.
The Gunners are battling to hold onto Lacazette and strike partner Pierre Emerick Aubameyang this summer.
There is plenty of interest in both men, following Arsenal’s failure to return to the Champions League next season.
Atletico boss, Diego Simeone, is looking for a top player to replace Griezmann’s many goals and would be able to offer Lacazette a return to Champions League football.
Lacazette scored 13 times in the Premier League last season and provided eight assists.
With five more goals in the Europa League, the former Lyon striker also played a key role in their run to Baku.