According to ESPN's Adrian Wojnarowski, Muhammad's representatives recently informed Minnesota's front office of his desire to be moved.
Muhammad has appeared in just 31 games this season, and he is averaging 3.7 points and 1.5 rebounds.
Muhammad has not appeared in 23 of the Timberwolves' past 32 games, and he played only three minutes in Thursday's win over the Milwaukee Bucks.
The 25-year-old UCLA alum is 10th on the team in points per game, and his 9.6 minutes per game are 10th as well.
In addition to being well behind starting small forward Andrew Wiggins and starting shooting guard Jimmy Butler on the depth chart, Muhammad is also seeing less action than Jamal Crawford, Tyus Jones and Nemanja Bjelica.
Muhammad has largely come off the bench throughout his five-year NBA career, and he has often provided a scoring spark when given an opportunity.
The 2013 first-round draft pick averaged 9.9 points per game last season, and his best performance came in 2014-15 when he averaged 13.5 points per contest over 38 appearances.
At 33-22, the T'Wolves are on pace to reach the playoffs this season for the first time since 2003-04. They are currently fourth in the Western Conference and figure to be players in the trade market.
Muhammad could help another team down the stretch, and if it turns out to be a quality fit, he has a player option that would keep him under contract next season.
Although Muhammad has fallen out of favor in Minnesota, he is an offensively talented player with the ability to score the basketball if given the opportunity.