The 25-year-old has attracted plenty of interest following an impressive 2025/26 campaign, with Premier League newcomers Ipswich Town previously considering a move for the versatile attacker.
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However, their interest cooled after they completed the signing of Abdul Fatawu from Leicester City.
Bournemouth and Brighton and Hove Albion have also been linked with Azeez, but the Tigers are now believed to be leading the race.
Millwall are reportedly unwilling to sell for less than £15 million, while the player still has two years remaining on his contract at The Den.
Azeez scored 11 goals and registered eight assists in 37 appearances last season, earning a place in the Sky Bet Championship Team of the Season.