Jacobs' trade request continues an exodus from Alberton, after the Power lost Danyle Pearce to Fremantle and Troy Chaplin to Richmond earlier in the Gillette AFL Trade Period.
Jacobs, 20, was selected by the Power with pick No.16 in the 2010 NAB AFL Draft and is highly rated by the club.
"We think he has got a lot to offer and a bright future," football manager Peter Rohde said.
"He's a Melbourne boy and he's asked us to explore options for him among the Victorian clubs.
"Having said that, we consider him a required player at Port Adelaide and I know that he has enjoyed his time with us and appreciated the opportunities and development we have provided him."
Jacobs' request comes after the Power stepped up the pressure on the defender to reach a decision, saying the uncertainty had forced the club to put other contract negotiations on hold.
If a trade can't be found, Rohde said Jacobs would be welcomed back for season 2013.
"We don't consider the door is closed at Alberton," he said.
