The 22-year-old goalkeeper has been impressive for Sunderland this season and has been their undisputed number one.
A product of the Sunderland academy, Patterson is also a fan favourite but he is now attracting the interest of clubs in the Premier League.
And it has been claimed that the goalkeeper could be leaving the Stadium of Light in the summer.
Leicester have identified Patterson as their top goalkeeping target and they will make a formal offer for him.
The Foxes allowed Kasper Schmeichel to depart last summer and Danny Ward has been their number one this season.
They are eyeing bringing in a new number one at the end of the season and Patterson is the goalkeeper they want.
The Sunderland goalkeeper would want assurances of first-team football before he agrees to leave the Black Caps.
Sunderland are ninth in the Championship standings and five points off the promotion playoff spots.
