The Athletic says West Ham are keen on a permanent deal, but the dialogue remains at an early stage. The Norway international has other suitors, reports The Athletic.
Wolves rejected a Newcastle bid this summer, after which the management team secured a new deal for Strand Larsen through to 2030.
The centre-forward joined Wolves almost a year ago from Celta Vigo, initially on loan before signing permanently last summer.
This season, he has only managed one goal in the Premier League, with Wolves sitting bottom of the table.