Hull City transfer news: Tigers line up move for former Huddersfield Town, Doncaster Rovers and Rotherham United defender
Toffolo, 27, who had loan spells earlier in his summer at Rotherham United and Doncaster Rovers, has struggled for opportunities in his time at the City Ground after joining last summer.
Jacob Greaves, who has been operating at left-back in recent weeks, came off with a side injury in last Friday's loss at Yorkshire rivals Sheffield United.
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Hide AdWith Brandon Fleming loaned out to League One side Oxford United earlier this month, City have limited defensive cover at left-back aside from Callum Elder.
Toffolo was a main-stay for Huddersfield for two-and-a-half years after joining from Lincoln City in January 2020.
He was named one of three vice-captains ahead of the 2021/22 campaign and played 99 times for the club, scoring nine goals.
With his contract expiring last summer, Toffolo elected to run down his contract and take up an offer at Forest.