The Hornets are in the market for a new striker, with options up front thin on the ground for the time being.
Onuachu has generated interests from a number of clubs in Europe following a stellar campaign in the Belgian Pro League.
The 27–year-old scored 35 goals in 41 appearances across all competitions for Genk in the 2020/21 season.
According to the Watford Observer, the Hornets are understood to have made their interest known to Genk, but discussions are not thought to be at an advanced stage yet.
Arsenal, West Ham United and Brighton & Hove Albion are also rumoured to be interested in the striker.
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