The 22-year-old is also on the radar of Cardiff City and has still got three years left on his contract.
The English forward quickly rose through the ranks of the Reading academy.
After hardly getting any playing time in the main team for over two years, he spent half of his career with League Two club Crewe Alexandra on loan.
Later, the former Blackpool player became a cult figure at Cambridge United after producing consistent displays.
Ikpeazu moved to Tynecastle Park last year after getting recognition from the manager Craig Levein.
He holds an imposing figure and possesses attributes such as power and pace.
Possibilities of signing
With the Bluebirds nearly heading towards possible relegation, the Bhoys won’t find it difficult in persuading the striker to move to Park Head.
Moreover, the Jambos are looking around £1million (h/t The Sun) for their striker, which is definitely an affordable for the Park Head side.
Why Celtic should pursue?
Ikpeazu could provide perfect cover for the in-form striker Odsonne Edouard.
Edouard played a role in the derby win over the Gers on Sunday with his stunning goal in the first half.
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Neil Lennon’s side is leading the Premiership table 13 points clear of the Light Blues. They are poised to lift the title for the eighth time, the Bhoys are also keen on defending their Scottish Cup.