Recent report suggest that, Spanish giant Real Madrid join Barcelona in chase for the player.
The Foxes star has been instrumental in the club's climb up the Premier League, jumping from a relegation battle under Nigel Pearson last season to top of the table under the hand of Claudio Ranieri as the season enters its final phase.
Mundo Deportivo claim that the La Liga giants have sent scouts to watch the Algerian star play at the King Power Stadium, although they are said to expect fierce competition from Barcelona for the 25-year-old's signature this summer.
Macrez Gilbert, president of Mahrez's first club Quimper Kerfeunten FC, claimed recently that he 'always said he would one day play for Barca', with a number of reports now claiming that the La Liga leaders are looking at making a move for the Premier League's breakout star.
Mahrez himself hinted shortly before the winter transfer window that he could be open to a move at the end of the season, whether or not Leicester manage to qualify for the Champions League, or even secure the Premier League title.
He told French radio in December: "It's best for me to stay until the end of the season. I was at Le Havre, I had six months left but nobody came to get me. Leicester tried very hard to get me.
“I could feel that they wanted me. I took the decision without knowing the culture or the area. It was a risk. When you come from far away and you ended up in the Premier League it makes you happy.”