The Whites are said to have concerns over Charlie Taylor's future.
Leeds United have opened talks with Walsall over the transfer of left-back Rico Henry, the Daily Mail reports.
The Whites' interest was reported in the Mirror over the weekend, and appears to have been followed by an approach.
The Yorkshire side are said to be concerned that Charlie Taylor will leave the club this summer, and Henry would be a like-for-like replacement.
Leeds' Charlie Taylor is highly sought-after
Taylor recently entered the final year of his Elland Road contract and has drawn interest from a string of Premier League clubs.
Last week, Leeds owner Massimo Cellino stressed to the Mirror that Taylor would not be sold, unlike teammates Sam Byram and Lewis Cook, who joined West Ham and Bournemouth respectively this year with their contracts also running down.
Sam Byram left Leeds for West Ham in January
The 22-year-old's age means the Whites will be entitled to compensation if he moves to another English club at the end of his deal.
According to the Mirror, Leeds were planning an offer in the region of £1 million for Henry, who was an ever-present as Walsall narrowly missed out on promotion last season.
The 19-year-old's displays saw him nominated for the Football League's Young Player of the Year award, to which both he and Moussa Dembele, who recently joined Celtic from Fulham, were beaten by Cook.
Lewis Cook was in an identical situation to Taylor