The 24-year-old only arrived at Elland Road last summer from Manchester United and is under contract until June 2026.
James was a first-team regular for the West Yorkshire outfit last season and helped the club climb away from the relegation zone, recording four goals and five assists in 34 Premier League appearances.
The Wales international has since played in two of Leeds’ first three Premier League matches of the new campaign, including a start in their 3-0 home win against Chelsea last weekend.
There have been suggestions that James may not be a guaranteed starter under Jesse Marsch this term following the arrivals of Brenden Aaronson and Luis Sinisterra.
However, Football Insider claims that Leeds want to keep hold of the winger and insist that he will not be sold in the final week of the transfer window.
The 21-year-old spent the second half of last season with the La Liga club after failing to nail down a regular place in North London, and the Spaniard is now expected to return to his homeland on a temporary basis.
Tottenham boss Antonio Conte revealed last week that the club will be active in the transfer market if players leave before the September 1 deadline.
“This squad is this and if someone goes away then another has to come,” the Italian told reporters. “This has to be very clear for everybody. Otherwise we stay with this squad and we continue our path with these players, this squad.
“But if someone has to go away, along another must come. This is very clear for me, for the club, but we are totally agreed on this aspect.”