The report claims that the Toulouse forward is valued at around £10 million, and Leicester are among those interested in bringing him in as they seek to bolster the striker options this summer.
However, Claudio Ranieri has strongly hinted that the club will instead look to unearth yet more gems as they look to strengthen their squad with players of similar mould.
Yedder has been making plenty of noises in France over the past 12 months, scoring an impressive 22 goals in 39 games for Toulouse despite the club struggling in Ligue 1.
With just 12 months left on his contract, the French club will no doubt prefer to sell him now rather than risk losing him for free next summer and that gives clubs the chance to strike a potential bargain.
The 25-year-old is quick, good with both feet and clinical in-front of goal, illustrating his eight-figure price-tag.
Leicester will be keen on bringing in added fire-power to take the burden off the likes of Riyad Mahrez and Jamie Vardy next season, and Yedder is a player who could thrive in the English league.