Lynch, who attended Oakland Tech, has strong ties to his hometown and playing for the Raiders could influence his decision to come out of retirement, ESPN reported.
He will turn 31 on April 22.
"It could really happen", one source told ESPN on Friday.
The Raiders might be calling Lynch's bluff. Seahawks general manager John Schneider and Raiders GM Reggie McKenzie worked together in the Green Bay Packers' front office. Although he's retired, he is still technically under contract with the Seahawks, which means Oakland would have to trade for him.
Lynch is from Oakland and has said in the past he's always wanted to play for the Raiders.
As most people are aware, Lynch is originally from the Oakland area.
In his nine years in the NFL, Lynch started 114 games while rushing for 9,112 yards and 74 touchdowns. "I'm done. I'm not playing football anymore".
In a June appearance on 60 Minutes Sports on Showtime Lynch said "I'm retired".
Lynch didn't play last season after announcing his retirement in February 2016. He was drafted out of Cal by the Buffalo Bills in 2007 and was traded to the Seahawks after the 2009 season. During Lynch's tenure with the Seattle Seahawks, which began in 2010, only Peterson had more rushing yards after contact.