The Yorkshire Evening Post report that Spurs boss Martin Jol was at Elland Road on Tuesday watching Lennon against Sheffield United and he is expected to make a firm bid at the end of the season.
Tottenham, who signed keeper Paul Robinson from Leeds last May, are keen to sign young English talent and the YEP understands that Lennon tops their summer wish list.
The 18-year-old's contract expires at the end of next season and Leeds may be tempted to cash in rather than lose him for a nominal fee if a new deal cannot be agreed.
Tottenham were linked with a double swoop for Lennon and his teenage team-mate Simon Walton during the January transfer window and may tempt Leeds with £1.5m bid for Lennon.