According to a report in "The Times of India", Kohli has already spoken to the left-hander and expressed his desire to have him in RCB colours for this year's tournament.
If all goes well, RCB will bid for Yuvraj and buy him at the next month's Player Auction.
Yuvraj played for the now defunct Pune Warriors last year. The left-handed all-rounder is now out of the Indian team but is still one of the best batsmen in Twenty20 format.
In the recent player retentions, RCB have retained only three players out of maximum five - Kohli, Chris Gayle and AB de Villiers. It would be a dream line-up if they can add Yuvraj to that.
The Player Auction takes place in Bangalore on February 12 and 13.