Skysports.com understands Leicester are in talks to sign Curtis Davies and Patrick van Aanholt.
Foxes boss Sven Goran Eriksson is keen to bolster his defensive options and has lined up loan deals for Villa centre-half Davies and Chelsea full-back Van Aanholt.
Davies enjoyed a loan spell at Leicester earlier this season with Eriksson expressing his desire to bring him back to the club.
The former England Under 21 international made 12 appearances for Leicester before returning to Villa earlier this month.
A number of Premier League clubs have been linked with Davies, but Leicester are hoping to persuade him to return to the Walkers Stadium on loan until the end of the season.
Davies' representative, Phil Sproson, has confirmed they have been given permission to hold talks with Leicester and is hopeful a deal can be reached.
"We are in talks with Leicester over another loan deal and we are hopeful of getting it agreed," Sproson told skysports.com.
"Curtis enjoyed his first spell at Leicester and I know Sven was keen to have him back."
Davies could be joined at Leicester by Chelsea defender Van Aanholt with the Blues willing to loan out the Dutch Under 21 international after Ryan Bertrand returned to the club from a loan spell at Nottingham Forest to provide cover for Ashley Cole.
A number of other Championship clubs were thought to be interested in signing Van Aanholt, but Leicester are poised to win the race for the left-back with the 20-year-old thought to be undergoing a medical at the Walkers Stadium.