The former Portsmouth defender, 33, spent last season at Fulham after a £1million deadline day switch in August. He signed a two year contract but has failed to feature in Roy Hodgson's plans after the former Blackburn manager took over from Lawrie Sanchez.
The player's agent, Phil Smith, confirmed that there had been interest from Norwich boss Glenn Roeder, but that it was still at an early stage. Roeder is searching for re-inforcements for a defence which has only Gary Doherty and Jason Shackell available as centre-backs.
Stefanovic, who won 20 caps for Serbia and Montenegro, first moved to England in 1995 when he swapped Red Star Belgrade for Sheffield Wednesday in a £2million move, along with compatriot Darko Kovacevic. Kovacevic's spell was short-lived, but Stefanovic stayed for three seasons.
The full-back or centre-back returned to these shores in 2003 with Portmsouth, who paid £1.9million for his services, justified by his player of the season award in 2004-2005.