The move comes after the club's previous attempt to sign Victor Osimhen failed.
Although Al-Hilal was willing to meet Osimhen's €75m buyout clause, the Napoli-owned player has decided not to join the Saudi team.
Now, Al-Hilal is focusing on Gyokeres, a talented Swede with a contract that includes a €100m release clause.
However, Sporting CP is open to selling Gyokeres for a lower price of €60-70m.
Even if Sporting CP decides to increase the price, Al-Hilal is expected to meet the asking price.