The north London club are the only side in England's top four division not to complete a signing in the summer transfer window. Spurs manager Mauricio Pochettino has admitted that his side are looking to bring in "three or four" players before the end of the window.
According to the Telegraph, the Argentine coach is planning a spending spree before the transfer window shuts and has identified Barkley and Sanchez as the transfer targets.
Barkley has one year left on his contract at Goodison Park and the England international has already rejected an opportunity to sign a lucrative deal at Everton. The Toffees manager Ronald Koeman has already admitted that he is certain that the midfielder will leave the club this summer.
The Everton star is also attracting interest from Premier League winners Chelsea as Barkley is valued around £25m (£32.5m). Tottenham remain confident that they can beat Antonio Conte's side and believe Pochettino's presence gives them an advantage over the Blues in signing the midfielder.
The Merseyside club are expecting a firm offer from the White Hart Lane club for Barkley this week. Tottenham are the front runners in signing the Everton midfielder and have kept the No 8 shirt vacant.
Pochettino's left-back Danny Rose has also urged the former Southampton manager to complete the signing of Barkley from Everton. The defender wants Tottenham to beat Chelsea in bringing his compatriot to the Lane.
Meanwhile, Tottenham are also interested in signing Colombian international Sanchez. The 21-year-old was the star player in Ajax's defence last campaign that saw them make it to the Europa League final, only to lose 2-0 to Manchester United in May.
Sanchez is target for the Premier League club and Spurs are ready to pay around £35m ($45.5m) for the central defender. However, Ajax are not looking to lose their player this summer as they have handed him a new deal, which will see him earn around £60,000-a-week ($78,000).
In addition to this, the Dutch club are demanding £50m ($65m) to part ways with Sanchez as they believe the price tag will fend off any interest from Tottenham.