The Foxes are in the market for a new centre-forward and have set their sights on the 22-year-old.
Adam Hlozek has been linked with a move to England for much of his career and was previously a target of Newcastle United and West Ham.
But Leicester City are now looking to get a deal over the line with the young striker made available by German champions Leverkusen.
HITC understands that Leicester are close to striking a deal that will see Hlozek arrive on an initial loan with an obligation to make the move permanent for £15million.
Hlozek, who scored seven goals for Leverkusen last season, has been compared to legendary forward Zlatan Ibrahimovic.
Leicester ready to strike double striker deal
HITC revealed on Sunday that Leicester launched a bid for Panathinaikos striker Fotis Ioannidis.
The Foxes lodged an offer worth around £23million for the Greece international as they look to bolster their striker department.
It is understood that Leicester want to sign both Ioannidis and Hlozek and are working hard to try and get the double deal over the line before the start of the Premier League season.
Leicester kick-off their league campaign with a clash against Tottenham Hotspur on Monday evening.
Steve Cooper’s side are short up front after losing Kelechi Iheanacho to Sevilla on a free transfer.
If Leicester secure both strikers, they will join Issahaku Fatawu, Caleb Okoli, Michael Golding and Bobby De Cordova-Reid as new signings at the King Power Stadium.
Leicester also struck a loan deal for highly-rated Brighton youngster Facundo Buonanotte, who had also been offered to Celtic.
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