The 24-year-old has been linked with a move to the King Power Stadium and Ranieri said he has confidence in the club to make the deal happen.
Reports in France suggest any potential move would be worth £5.6m.
A tweet on the official Leicester City Twitter account said: “Ranieri says he is hopeful on talks between #lcfc and N’Golo Kante. ‘I am very confident in the Club’.”
Should the deal go through, the French midfielder could be Ranieri’s first signing for the club as he searches for a replacement for Esteban Cambiasso.
Leicester are also discussing personal terms with Chile international midfielder Charles Aranguiz after agreeing a club-record £10.5m fee with Internacional and they have agreed a fee of £3m for experienced Napoli midfielder Gokhan Inler.