Hulse seems set to leave Albion after making just seven substitute appearances this season and is keen on a move away to secure regular first team football.
Hulse rejected a move to Stoke last week and the player's agent, Stephen Hughes, revealed talks are underway over a possible loan deal.
"Leeds and West Brom are both currently talking over a possible loan deal," Hughes confirmed. "It could be a three-month loan deal with an option of a permanent move.
"Rob is keen to be playing regularly and there has been interest from a number of top Championship clubs.
"I am just waiting on the outcome of the talks between Leeds and West Brom and will take it from there."