Currently, Hosseinnejad plays for Russian side Dynamo Makhachkala. The 22-year-old midfielder joined Dynamo from Sepahan last season on a three-year contract.
He has scored three goals in 24 appearances for Dynamo Makhachkala.
Originally, Esteghlal planned to sign Omid Noorafkan, but the club was unable to secure the Malavan midfielder. As a result, their focus has shifted to pursuing Hosseinnejad.