The report claims that the Swansea City midfielder is attracting heavy interest with Crystal Palace, Fiorentina and Hertha Berlin interested but it is Leicester who lead the race for his signature.
Despite not having the best of spells in the early stages of the campaign, Sigurdsson has certainly found his range under Francesco Guidolin with four goals and two assists in his last eight league games.
The Iceland international is predominantly a number 10, although he can play in a range of positions in the final third and some could argue he is due a move to a club vying for the European spots.
Leicester, having won the Premier League title and set to play in the Champions League, have the potential to sign big-named stars this summer yet manager Claudio Ranieri is instead seeking similar players to what he has.
The Italian coach apparently sees Sigurdsson as a good fit for the Foxes, where he would likely compete with Shinji Okazaki in that advanced role just behind leading scorer Jamie Vardy.
Palace are also said to be interested in the player, with the Eagles looking to strengthen their squad this summer and make a push for a top 10 spot in the Premier League next season.