The 19-year-old has come through the youth ranks at Deepdale and has made a major impact this term, scoring four goals in his last nine games.
A number of Premier League and Championship clubs are understood to be monitoring his progress, with the likes of Wigan, Leicester, Bolton and Blackburn believed to be among those looking at him.
Hayhurst's current deal expires this summer, but Preston are believed to have an option and want to extend his stay at the club.
Steve Blatherwick of Elevate Sports, Hayhurst's representatives, said talks are ongoing with Preston but he refused to confirm any interest in the player.
"We are talking with Preston about Will, he is happy at the club and clearly is enjoying his football - which is the main thing," Blatherwick told Sky Sports.