The midfielder is one who Brighton and Hove Albion are tracking in the winter transfer window.
However, The Mail states that Dewsbury-Hall is happy at the King Power Stadium club.
Leicester value the homegrown midfielder at over £40 million plus add-ons, which may be beyond Brighton.
There is no indication that Dewsbury-Hall is angling for a move, as Leicester are likely to be back in the Premier League next season.
Leicester are said to be closing in on the signing of Stefano Sensi from Inter Milan on loan with an obligation to buy, should they gain promotion.