The youngster has been excellent this month.
The next month will be key. If he is not tied down to a new deal Leeds will be unlikely to risk a compensation settlement in the summer and will instead sell the player - with a host of Premier League clubs said to be interested in the Championship player.
But Leeds should be desperately trying to keep hold of the player, as he is starting to show signs of being the player he has always threatened to be. In fact, he could even become Leeds' very own Gareth Bale.
It may sound hyperbolic but the way he is transitioning into the midfield is becoming alarming for Championship rivals.
He has all the physical attributes to be a top midfielder. Pace, strength, tenacity - he was wasted at full-back. He also has an innate ability in front of goal and, as he showed against Nottingham Forest, a fairly decent long-range strike.
But that wing-play never leaves player's like Byram. Just as Bale whipped in a perfect cross for Real Madrid team-mate Lucas Vazquez this week Byram did similar for Chris Wood v Derby County.
The pair bare remarkable similarities and Byram has been perhaps the most impactive player in the Championship in December.
Leeds must tie down Byram to a new deal as in the future he could prove to be one of their greatest mistakes.