The Portuguese giants view the 26-year-old as an ideal replacement for Goncalo Ramos, who is expected to accept an offer from Paris Saint-Germain, newspaper O Globo said on Thursday.
It added that Benfica are also considering a move for River Plate striker Lucas Beltran, reports Xinhua.
Pedro has more than four years to run on his Flamengo contract but has reportedly told close friends and family that he wants to leave the top Brazilian club.
The 26-year-old has struggled for first-team opportunities this season and was the centre of controversy last weekend when he was involved in a physical altercation with Pablo Fernandez, the Flamengo assistant coach. Fernandez was sacked by the club on Sunday.
Pedro has scored 93 goals in 192 matches for Flamengo since joining the Rio de Janeiro club from Fiorentina in January 2021. The European transfer window is open until September 1.
