The 21-year-old midfielder has made an impact at Vojvodina, having been named captain of the Novi Sad-based side, and his performances have attracted the interest of Wolfsburg's Felix Magath.
"Negotiations are underway with Wolfsburg," Vojvodina president Ratko Butorovic said, according to Kicker. "In a few days we will know where we stand. We only want the best for him."
Reports suggest Medojevic would cost approximately 2.5 million euros.
Wolfsburg sit 12th in the Bundesliga with 20 points, and return to action after the winter break against Cologne on January 21.
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