The Croatian is the club's record signing but has not been a regular this season.
He joined in a club record deal and played his part in Leicester's miraculous survival in the Premier League last season.
But this term he has slipped down the pecking order at the King Power Stadium.
Jamie Vardy is on fire and Shinji Okazaki has been a top recruit. Leonardo Ulloa is also ahead of him in the mind of Claudio Ranieri.
Kramaric has played just four games for The Foxes this season. His last game was the League Cup tie with Hull City in October and he has played just one game in the Premier League this term.
Now it looks like he could be on his way out of the club.
Football Italia is reporting the news that the Croatian is wanted by the trio of Italian powerhouses - where his excellent performances in the Croatian league with Rijeka have not gone unnoticed.
The report claims he is set to demand a January exit and with the Italian teams seemingly lurking it would seem like he is on his way out.