The Hawks have previously shown interest in the Dockers goal-sneak, and have now reportedly handed a three-year contract to the 23-year-old.
After being delisted and then retained as a rookie at the end of last season, Schultz is able to take up his free agency rights and walk, potentially returning home to Victoria.
According to The West Australian's report, the recent delisting of close mate Brett Bewley could play as a factor should Schultz opt to leave Fremantle.
The pair played together at Williamstown before joining the Dockers ahead of the 2019 season, with Bewley one of four players to be axed by the club this week.
Despite his own sacking and re-listing in 2020, Schultz has emerged as a vital role player for the Dockers this year, booting 22 goals from his 20 games in purple.
Last week there was belief the Dockers livewire was keen to remain with Fremantle, with the club's latest list decision now potentially placing some speculation around his future.
Speaking on Triple M, reporter Nathan Schmook stated that Schultz was tipped to remain in Perth, however the Hawks' interest has been persistent.
"They flagged a bit of interest in Lachie Schultz, about a month ago that emerged. And it's still there, that interest hasn't gone anywhere." Schmook said.
"I'm told that Schultz wants to stay at Fremantle.
"There's been some sticking points in negotiations."