Rhodes joined Wednesday on loan from Middlesbrough in the January transfer window and made the move permanent earlier this summer for a fee reported by The Daily Mail to be worth £10 million.
According to a report in The Daily Mail earlier this month, Leeds United are interested in signing the former Ipswich Town striker.
The Scotsman knows the Championship inside out and has been quite successful in the division.
Leeds need to find a striker who can replace Chris Wood, who has left for Burnley, and they are not going to get many like Rhodes.
If Wednesday are open to the idea of loaning out Rhodes, then Leeds should make a concrete offer and bring him to Elland Road.