Edouard has been in impressive form for Neil Lennon's side during the 2019-20 campaign, scoring 27 times and contributing 19 assists in 45 appearances in all competitions.
However, Whelan has claimed that Leeds should be in the hunt for the Frenchman if they manage to gain promotion to the Premier League for the 2020-21 campaign, in addition to securing investment.
"You would hope we get new investment and the money from the Premier League," Whelan told Football Insider. "Then it is a case of spending money in the right areas and a goalscorer is one you are going to have to part a lot of money with, unfortunately. We need to give ourselves every opportunity.
"We need players that will make a difference. I would be looking at the Celtic striker - Edouard if we are going up. Is he available and if he is, let's bring him in. For £30m that would be a great buy and I can see it."
Leeds are currently top of the Championship table with 71 points from their 37 matches, but there is no guarantee that the 2019-20 campaign will be allowed to resume.