According to recent reports, Leeds submitted a bid of £26 million plus an additional £6 million in performance-based bonuses for the player's services.
However, Fulham has declined the offer, choosing to hold onto Muniz for the upcoming season.
This is not the first time a Premier League team has shown interest in the Brazilian striker, as West Ham United also inquired about his services earlier in the year.
Fulham's management team remains committed to keeping Muniz, insisting that he will only be sold for an exceptionally high offer this summer.