The 22-year-old is currently unsigned for next season and faces an uncertain future, having played just 14 games since landing at Alberton through the 2018 National Draft as a Category B Rookie.
The dashing defender avoided the Power's first wave of delistings this off-season, with a trio of names not offered new deals for 2023, while Karl Amon has confirmed he'll depart through free agency to join Hawthorn this off-season.
Amon's imminent exit could see the Power look to retain Frederick beyond this season, however they're reportedly set to face competition to keep his services.
According to The West Australian, the Eagles are one of five clubs that have Frederick on their radar this off-season, with the South Australia-born backman seen as a potential trade piece in negotiations between Port Adelaide and West Coast for Junior Rioli.
The Eagles confirmed earlier this week that their premiership forward had informed the club of his intentions to depart, with the Lathlain Park side set to green light Rioli's request with some level of reluctance.
The situation has reportedly seen them set some attention of their own on Frederick, who could add to a struggling West Coast outfit in need of newfound depth.
West Coast are likely to seek a draft pick in the top 30 selections in exchange for Rioli, with the compensation Port Adelaide will receive for Amon a likely bargaining chip.
Frederick could be added into the trade mix, with former Power assistant and current West Coast midfield coach Jarrad Schofield understood to be a fan of Frederick's prospects.
His brother, Michael, has emerged as a key piece in Fremantle's system this season, playing 22 games for a return of 28 goals.
The Eagles have also been linked with young Power forward Mitch Georgiades, however suggestions the Western Australian could be part of a Rioli trade have seemingly been dashed.