The Foxes have already signed Abdul Fatawu, Caleb Okoli, Michael Golding and Bobby De Cordova-Reid ahead of their return to the top flight.
According to the Daily Mail, Leicester are looking to add Hatate to Steve Cooper's squad, with the Foxes weighing up a 'big-money' offer for the Celtic man.
The Hoops have already turned down an approach for Hatate from Russian side Zenit St Petersburg earlier this summer.
Although they are yet to receive an official proposal, the Scottish champions are believed to be aware of Leicester's interest.
Celtic are in a relatively strong negotiating position, with Hatate under contract until June 2028 after signing a new deal last year.
The Japan international has scored 16 goals and provided 19 assists in 87 competitive appearances since completing a move from Kawasaki Frontale in January 2022.
Juventus set to win Todibo race amid West Ham interest
Over in Italy, Juventus are reportedly on the verge of agreeing a deal to sign Nice defender Jean-Clair Todibo this summer.
Juventus are set to complete the sales of defender Dean Huijsen and winger Matias Soule to Bournemouth and Roma respectively.
With the funds generated from those sales, the Serie A giants will be in a position to win the race to secure Todibo's signature.
According to journalist Matteo Moretto, Juventus are close to reaching an agreement with Nice to sign Todibo despite facing competition from West Ham United.
Although the Hammers have shown an interest, the 24-year-old has made it clear he wants to complete a switch to Thiago Motta's side.
The Italian club are looking to move quickly to finalise a deal which would see Todibo become the second player to join Juventus from Nice this summer, having already recruited French midfielder Khephren Thuram.
Genoa call off De Gea deal
Meanwhile, David de Gea's proposed move to Serie A side Genoa has reportedly fallen through due to the player's wage demands.
De Gea has spent over a year out of the professional game after leaving Manchester United at the end of the 2022-23 season.
The Spaniard had been linked with moves to the Saudi Pro League and the MLS, before Genoa emerged as a potential destination for the 33-year-old shot-stopper.
It was claimed that De Gea was open to the prospect of joining the Serie A club, who are looking to replace Josep Martinez following his switch to Inter Milan.
However, according to Sky Sports News, the proposed deal has collapsed over De Gea's 'unrealistic salary expectations'.
Genoa are unlikely to revisit a deal for the ex-Atletico Madrid goalkeeper, with the Italian club set to turn their focus to pursuing alternative targets.