The 24-year-old, who has been capped 21 times by Ecuador, is currently plying his trade for Barcelona SC.
The Red Devils are reported to have sent scouts to watch the defender after he helped Barcelona win the Serie A title in 2012.
Erazo, who scored his first Ecuador against Greece in June 2011, admits he is excited by talk of a potential offer from Europe.
“It’s true that there was initial contact, but it will not help if my performance drops,” Erazo told the Daily Mail.
“I try not to think about this. It’s really flattering that big European clubs are watching football in my country, but if you think about playing with Real Madrid or Manchester United you risk losing concentration.”
United already have an Ecuador international on their books at Old Trafford after Antonio Valencia joined the Red Devils from Wigan Athletic in 2009.