The 21-year-old highly-rated midfielder debuted for the Argentinian giants in June 2020 and has since played 85 matches, scoring his only goal for the club last year.
He has already featured in all seven of Boca’s opening matches in the 2023 league campaign, including Sunday’s 1-0 defeat against Banfield.
Football Insider reports that Liverpool, Barcelona, Newcastle United, and other European clubs are interested in signing the youngster in the summer.
According to the report, Liverpool and Newcastle United have sent scouts to monitor Varela’s development.
Although Varela signed a new contract with Boca Juniors last year, it is believed that the midfielder is willing to consider a move to Europe in the summer transfer window, with a preference to join a Premier League team.