Fiorentina are reported to be keen to bring the former Sampdoria star back to Serie A ahead of next season and have already seen one bid turned down by West Ham this summer.
Obiang made 27 appearances in all competitions for the Hammers scoring two goals including his stunning strike in the 1-1 draw with Tottenham at Wembley.
The 26-year-old still has four years to run on his contract. Obiang is still highly-regarded in Italy after coming up through the youth ranks at Sampdoria and playing five years in the first-team before moving to West Ham in 2015.