Larsson is out of contract at the end of the season, but the club are keen for the former Arsenal man to sign a new deal.
“We’ve made an offer, we’re just waiting on Seb to come back to us,” McLeish told the Birmingham Mail.
“He’s at liberty to speak to foreign clubs in January. That’s the Bosman rules and we will do our best.
“He’s playing well, he’s had a good season. But he is also in a good position for himself.”