Last season, Leicester signed the 20-year-old left-back from FC Copenhagen during the January transfer window.
And Kristiansen made 12 Premier League appearances for the Foxes, but failed to help Leicester avoid relegation.
The player has five years left on his Leicester City contract and he is attracting interest from Italy.
Lazio are in search of a left-back and Kristiansen’s performances last season caught their eye.
According to Italian daily Corriere dello Sport (via Tutto Mercato), Lazio have been in touch with Kristiansen’s agent and have a verbal agreement in place for a move.
However, the Leicester star is not the priority left-back target for Maurizio Sarri’s side and they consider Juventus’ Pellegrini their primary target.
But in the event of failing to agree a deal with Juventus for Pellegrini, Lazio would make a move for the Foxes defender.
