Leeds are said to be willing to spend £5.2 million on the midfielder, who is currently impressing in La Liga.
Guardado has six assists and one goal to his name in the Spanish top flight this season, and although he only moved to Betis from PSV last summer, Leeds are already said to be willing to swoop.
Betis are believed to be considering allowing Guardado to leave, if Leeds to stump up a bid of over £5 million, as they realise it is a strong offer.
Betis could make profit on what they paid to sign Guardado only five months ago, and at the age of 31 the Mexican has little resale value.
If Guardado was to move to Leeds it would be quite a coup for Thomas Christiansen’s side.
Guardado has made a whopping 144 appearances for Mexico over his career, and has represented the likes of Bayer Leverkusen and Valencia.
Guardado generally plays in central midfield, and would be in competition with the likes of Eunan O’Kane, Kalvin Phillips and Ronaldo Vieira for a place in Leeds’ team, if he was to move to Elland Road.