The 22-year-old has spent the season on loan at former club Celta Vigo, making 14 appearances.
Celta have an option to buy back Diop for €9m plus €1m in bonuses when his loan term ends.
But with only five starts in La Liga, Diop is likely to return to Lyon at the end of the season.
According to Foot Mercato, Dijon have began discussions with OL to discuss the chances of a deal.
Lyon signed Diop, a former Spain U-21 international, from Celta for €10m plus €4m in bonuses.
However, the young midfielder has struggled for game time with Les Gones, managing only 13 Ligue 1 appearances in two seasons prior to his loan move to Celta.
Senegal-born Diop is under contract with Lyon until 2022.