Ounahi, who features for Ligue 1 club Angers has been linked to Leicester for several weeks, starred as Morocco reached the semi-finals in Qatar two weeks ago.
The Foxes are believed to have offered around £20million for Ounahi.
If Leicester could sign the 22-year-old in the window it would cast doubt on the future of Youri Tielemans, who was on the bench at Liverpool on Friday.