The former Rangers chief has long been linked with a move for Boyd whom he signed when he was in charge at Ibrox.
But McLeish cannot see his old club letting the striker go now - after Boyd broke the SPL scoring record and took his tally to 160 with five goals in Wednesday's 7-1 demolition of Dundee United.
He said: "Kris Boyd's cap has always been in the ring. It would be difficult to see Rangers letting him go as Walter Smith will be looking to go to the Champions League by winning the SPL. So is it worth it to Walter letting him go?
"Maybe Boyd's future will be in the Premier League. Does he want to come to the Premier League? You need to phone him and ask him."