The bid, believed to have been tabled by Premier League club Burnley, was turned down flat by Leeds with the Championship club intent on keeping the prolific forward on their books.
Wood is valued by United above the £12m plus add-ons deal which was tabled ahead of today’s clash with Preston North End and are reluctant to lose the current New Zealand captain at any price.
Head coach Thomas Christiansen has included Wood in his squad to face Preston and the forward is expected to start the game as Leeds look to register a third straight win.
The striker enhanced his value and his reputation dramatically last season by scoring 30 goals and winning Leeds’ player-of-the-year award after a sustained bid by United to reach the Championship play-offs.
Wood is two years into the four-year deal he signed when he joined Leeds from Leicester City in 2015 and United want to retain him beyond the end of this transfer window, despite growing interest among Premier League clubs.
Burnley are searching for a new striker after selling Andre Gray to Watford in a £18m transfer on Wednesday.
The Lancashire club have already signed left-back Charlie Taylor from Leeds in a £7m compensation deal after 23-year-old Taylor reached the end of his contract at Elland Road.
Stoke City and West Ham United were linked with Wood earlier in the summer transfer window but Leeds look ready to to ward off further bids for him.
Leeds are themselves looking to strengthen their attack and have targeted Hamburg forward Pierre-Michel Lasogga.