The Spain international "feels cheated" at broken promises the Real Madrid boss gave him last summer.
That is according to Spanish radio station Cadena Ser, who say that Morata has told his agent to look for a new club.
The 24-year-old was strongly linked with a move to the Premier League last summer before Madrid opted to use their buy-back clause to sign him from Juventus.
Alvaro Morata reportedly wants to leave Real Madrid
Alvaro Morata has fallen out with Real Madrid boss Zinedine Zidane
But the report claims Morata has grown increasingly frustrated at a lack of game time in the capital.
Antonio Conte is preparing for the possible departure of Diego Costa this summer and has lined up Morata as one of his potential targets.
Antonio Conte has linked up Morata as a possible replacement for Diego Costa should he leave
Meanwhile Arsene Wenger is keen to bolster his attacking options despite Olivier Giroud signing a new contract earlier this month.
Morata has started just six times in the La Liga this season and boasts a respectable five league goals.