According to The Sun, both are out of contract in the summer and Leeds do not have the money to offer them new deals.
Former England midfielder Batty, 35, has played more than 400 times for the club and is a Leeds legend.
Defender Radebe, 34, is also a legend with nearly 10 years’ service. The South African is due a testimonial at the end of this season and that could well be his last game in the white shirt of Leeds.
Leeds have already started preparing for the scenario of relegation and know they will have to release several players.
Former England winger Jason Wilcox, 32, is also a free agent in June and will not be offered a fresh contract.
Batty's agent Hayden Evans confirmed: "There hasn’t been an offer of a new deal and no negotiations have been mentioned.
"Everyone knows the financial problems at Leeds."