The Tigers are desperate to bolster their attacking armoury during the transfer window after being hit with a flurry of injuries.
Lennon is very much on the radar after City made contact with the London club over a player who has 18 months of his contract to run.
Tottenham, according to sources in the capital, are open to offers for Lennon but would prefer a permanent deal.
At the moment, the Spurs hierarchy remain committed to that rather than a loan move.
However, if City were to suggest a deal similar to what brought Jake Livermore north from White Hart Lane – whereby the 27-year-old England international moves with a view to a permanent deal in the summer – then a compromise may yet be reached.
There are, however, several other Premier League clubs also keen on Lennon with Everton having previously been mooted as a potential suitor with Kevin Mirallas moving in the opposition direction.
QPR and Stoke City are also believed to have shown interest in the Leeds-born wideman but Hull are hoping a possible return to Yorkshire would be made that bit more attractive by the presence of former Spurs team-mates Livermore, Tom Huddlestone and Michael Dawson at the KC Stadium.Hatem Ben Arfa’s departure last month has freed up a loan spot in the Tigers squad, along with the estimated £50,000 a week wages the Frenchman was being paid.
Lennon joined Leeds as a schoolboy and became the Premier League’s then youngest debutant when brought off the bench at Spurs in August, 2003.
He left Elland Road in the summer of 2005 for a cut-price initial fee of £500,000. The contract signed by Lennon as a scholar was the major stumbling block to him remaining in Yorkshire, in that it was based around appearances for the first team and included a clause that, on his 18th birthday, would have made the teenager one of the highest paid players at the club. United, therefore, felt they had to sell the then 17-year-old and a sell-on clause was included in the transfer.
However, that was cashed in during the summer of 2006 and the funds paid by Spurs handed to then manager Kevin Blackwell to help sign Ian Westlake and Kevin Nicholls.
Since moving to the capital, Lennon has made more than 350 appearances for Spurs and won 21 senior England caps.