MacDonald, who is set to become an unrestricted free agent this summer, is believed to be asking for closer to $5 million, annually, on a new four-to-five year contract.
Citing an unnamed league source, the Post claims Islanders GM Garth Snow already has received at least one substantial trade offer for MacDonald, and has turned it down.
The Los Angeles Kings, Detroit Red Wings, Colorado Avalanche, Anaheim Ducks and Boston Bruins are among the teams eyeing MacDonald.
The Islanders are also actively shopping left wing Thomas Vanek, who rejected a five-year, $50 million offer.
Multiple reports claim Snow is hoping to move Vanek by Friday's 3pm ET Olympic roster freeze.
The St. Louis Blues, Kings, Pittsburgh Penguins, New Jersey Devils, Vancouver Canucks and Philadelphia Flyers have all expressed an interest in Vanek.