McDonald's agent on Wednesday said the player wants to remain at Parkhead but the lure of the Premier League could ultimately prove too great.
Martinez is in need of reinforcements up front to ease the burden on Hugo Rodallega, with £2million summer signing Jason Scotland yet to score, and admits he is an admirer of McDonald.
"We are in the January window and we need to strengthen the squad, that is no big secret," said the Spaniard.
"Scott McDonald is a great goalscorer and has a great record in the Scottish game, has played European football and is an attractive player for any team in the Premier League.
"But I'm not going to go into detail on any names; we are going to be linked with many names, I understand that.
"We have been following many players and the key now is to bring in the right characters."
Of his presence at the Old Firm clash Martinez said: "I love watching games - I don't watch enough football - and to see an Old Firm derby is always a great atmosphere."
Martinez is keen to freshen up his squad and has already brought in Serbia goalkeeper Vladimir Stojkovic, who is awaiting a work permit, on loan from Sporting Lisbon and allowed South Korea midfielder Cho Won-Hee to return home for a temporary 12-month spell with Suwon Samsung Bluewings.
The Wigan manager has, however, not ruled out further departures as he continues to tinker with the squad he inherited when he took over from Steve Bruce in the summer.
"The first six months has been a perfect period for everyone to show, as an individual, what they want to do," said Martinez.
"It is quite clear certain players need a fresh challenge and on the other side we need to bring players in help the squad.
"We will strengthen in every window and that is the way we have to do it.
"We have to achieve short-term aims but we are looking at long-term aims and to do that we have to bring in the right characters - players who are desperate to win games for Wigan."
One of those players likely to leave is forward Olivier Kapo who, with just one substitute appearance this season after a knee injury in the summer, is on the verge of a loan move to French side Boulogne with a view to a permanent deal.