Menoncello scored two tries for Italy in this season’s Six Nations, crossing against France and England, and was nominated for the tournament’s individual accolade once again, losing out to France wing Louis Bielle-Biarrey.
His contract with Treviso expires at the end of next season and he has been open in his desire to test himself in the Top 14.
La Rochelle, coached by Ireland legend Ronan O’Gara, have also been linked with Menoncello.
However, Toulon have reportedly already secured the services of Juan Ignacio Brex,, external Menoncello’s midfield foil for both club and country, for the start of next season.
Toulon, who signed 42-year-old former All Black centre Ma’a Nonu as a medical joker in February, could also offer Menoncello the chance to work with ex-France international Mathieu Bastareaud, who is team manager at the club.
Benetton reached the knockout stages of the Champions Cup for the first time this season and are on course to make the United Rugby Championship play-off for a second successive campaign.