The Sweden international has had an outstanding season, having scored 18 goals and registered eight assists in 38 league matches.
Coventry are currently three points behind in the playoffs and may need to secure promotion to the Premier League to retain their star striker.
Gyokeres received interest from several clubs, including Brentford, Crystal Palace, Everton, Leeds United, and Wolverhampton Wanderers in January, but he remained with the Championship outfit.
However, the 24-year-old continues to be linked with a move away. The Foxes are reportedly one of the clubs keeping tabs on him, assessing whether to make a move during the summer.
Coventry are eager to extend Gyokeres’ contract and are reportedly in talks to offer him an improved deal.
The Swedish man has scored two goals in 12 appearances for the country and recently featured as a late substitute in their 3-0 defeat. He could also play a part in their second Euro 2024 qualifier against Azerbaijan on Monday.