But the Pompey boss admitted he faces a battle to land the emerging goal machine with a host of rival clubs.
The likes of Sunderland and Sheffield Wednesday are all also keen on the 20-year-old, who has smashed in 10 goals in the Papa John’s Trophy and Carabao Cup for the Premier League outfit.
Archer has bagged two hat-tricks this term, against Barrow last August and Burton Albion in October, as well as picking up three substitute appearances in the Premier League.
The Walsall-born talent signed a new contract last month keeping him at Villa Park until the summer of 2025.
It appears the next stage of his development will be to send the England under-20 international out on loan in the coming weeks.
Cowley is keen for his destination to be Fratton Park, with strengthening his attacking options a priority in the January transfer window.
It will not be straightforward seeing a deal to a conclusion, with a swathe of Football League sides also keen on Archer.
Cowley does have the money to finance loan moves, however, with Ellis Harrison agreeing a move to Fleetwood on Saturday.
And he confessed he’d love to land one of the jewels in the crown of Villa’s conveyor belt of exciting talent.
Cowley said: ‘We saw Cameron on loan last season at Solihull Moors and he’s a player we’ve watched a lot this season.
‘He’s played very, very well this season. He’s scored goals in Aston Villa’s under-23s who are one of the best young sides in the country.
‘Cameron has scored goals in the first team as well, not only in the Papa Johns games but also in the Carabao Cup.
‘He’s had some opportunities in the first team as well, so I’d anticipate we’re not the only team in the queue for him.
Cowley has made no secret of the fact he’s kept close tabs on the young players Villa have at their disposal.
The Pompey boss has watched the reigning FA Youth Cup champions on three occasions this season, with brother Nicky and other recruitment staff also dispatched to watch them live.
Brothers Carney and Caleb Chukwuemeka and winger Jaden Philogene-Bidace are other talents in Villa’s youth ranks who are also garnering attention.
Cowley added: ‘I’ve watched them three times now at Southampton, MK Dons and against Charlton.
‘They’ve got some really good attacking players and that group won the FA Cup last season.‘Nicky has seen them live and so has Phil (Boardman) and Roberto (Gagliardi).
‘They are a group of players we know well.’
A message from the Editor, Mark Waldron
Get 30 per cent off our sport subscription, which gives readers unlimited access to all our Pompey and grassroots coverage for just 9p a day, by using the promo code JanSports30. The deal expires at midnight on January 31.