Lees was one of the best players for Wednesday in the recently concluded 2014-15 campaign.
The 24-year-old defender created 10 chances in 44 Championship appearances, had a pass accuracy of 69% and a shot accuracy of 50%, and won 196 headers, nine dribbles and 36 tackles.
The former Leeds United defender’s performances appear to have impressed Fulham, who made a bid of £1.2 million for him, according to The Daily Mail.
However, it has been reported by the British newspaper that that bid has been rejected by Wednesday, who have allegedly offered the defender a new contract.
Lees moved to Wednesday from Leeds in the summer of 2014 on a three-year contract for an undisclosed fee, as reported by BBC Sport.
The Owls finished 13th in the Championship in the 2014-15 season with 60 points from 46 matches, four points and two places above Leeds.
Meanwhile, Fulham ended the campaign in 17th place with 52 points from 46 games.