The Whites snapped up Palermo centre back Sol Bamba last week, and it was thought that Pearce could be the man to lose out upon the Ivorian's arrival.
The former Bournemouth and Portsmouth defender is currently club captain at Elland Road, but has played just two minutes of football since the draw at Nottingham Forest in mid-December.
Reports from the Daily Mail on Saturday night suggested that Wigan were in talks over a deal to sign Pearce, and now the Yorkshire Evening Post have confirmed that Leeds received an offer from the Latics for the defender.
They also suggest that club president Massimo Cellino, who was forced to stand down on Friday, had told Pearce that the club would consider any offers for his services during this month's transfer window.
However, manager Neil Redfearn reportedly wants to keep Pearce at Elland Road, with the ongoing race row involving Giuseppe Bellusci still ongoing.
It would be foolish of Leeds to strengthen a side who sit just three places behind themselves in the Championship table, and with twists and turns to come in the relegation battle, Leeds really can't afford to hand players to their rivals at this stage of the season - meaning Pearce should stay with the club.