Lawrence had been interesting both Leeds United and Nottingham Forest, according to the Daily Mail, but he has rejected them both.
The winger has, instead, reportedly decided to move to Cardiff - where he will spend the rest of the season.
The Bluebirds are pushing for the play-offs, and Russell Slade has been keen to add to his squad in deadline day.
Lawrence has already impressed in the Championship this season, while on loan with Blackburn Rovers.
After that move expired, there were thoughts that the youngster could have been set to join Leicester’s first team set-up, but the Foxes’ superb form has meant that there is no place for him in Claudio Ranieri’s team.
And Leicester have decided to send him out on loan, with Cardiff acting quickly to beat their Championship rival’s to the youngster’s signature.