Charles, 22, caught the eye during Saints’ brilliant 2026, scoring key goals as they reached the FA Cup semi-final and Championship play-off final.
The Northern Ireland ace got the extra-time winner against Middlesbrough in the play-off semi-final to send Saints to Wembley in May.
However, the club never got to play the final due to being booted out of the competition after admitting to spying on three Championship opponents.
Failure to reach the Premier League has weakened Southampton’s position as they hope to retain key players ahead of the 2026/27 season.
The Daily Mail reports that Leeds have made a £20m-plus offer for Charles as they look to bolster their squad following a 14th-place Premier League finish.
Former Manchester City prospect Charles joined Saints in 2023 for an initial fee worth £10.5m with potential add-ons rising to £15m.
He has made 76 appearances for the club since that summer move, and spent the 2024/25 season on loan at Sheffield Wednesday.
Charles has previously been linked with a move to Everton and Manchester United, and recently registered an assist against France.