The one-time Argentina international is available on a free transfer, having left the Andalusian side at the end of last season.
The 29-year-old had looked set to complete a move to Ewood Park earlier this month, but the deal stalled.
Recent reports have suggested Liverpool, Fulham and newly-promoted Swansea City could now also be in the race for the forward.
Agent Barry McIntosh has confirmed several sides are keeping tabs on his client, but insists a move to Blackburn remains his preferred option.
"Yes, there are a number of clubs looking at Mariano, obviously I cannot name them at this stage," McIntosh told Sky Sports.
"The Blackburn situation is frustrating for Mariano, but as they made the move first we are willing to give them every chance to finalise the move.
"Mariano is a big fan of Steve Kean, he was very impressed with him and would love the chance to play for him.
"But we have to consider Mariano's future and we are aware of the interest from elsewhere."
Pavone spent last season on loan at Argentine side River Plate, where he scored nine goals in 32 matches as the Buenos Aires giants were relegated for the first time in their history.
‘He could have been another Thierry Henry if he’d stayed at Arsenal. It was up to him what he wanted because he was 6ft 1in, quick and unbelievable’: Ray Parlour claims Champions League winner could have enjoyed even greater success with Gunners
‘I don’t think we’ll see Marcus Rashford at Manchester United again – when you’re not seeing eye to eye with a manager, it can hinder your training, but a loan can work, it did for me’ Ex-Premier League star on parallels with forward’s Aston Villa switch
