The 19-year-old has already hinted that he would be keen to remain at the League Two club to gain more first-team experience and it seems likely that his deal could now be extended.
Grayson told the Lancashire Telegraph: "We've had Tom watched quite a bit and things have developed really well for him.
"It's been a good experience going to Accrington and he'll benefit from that. Everyone is saying how well he's done.
"I think we'll address his situation in the next few weeks but there's no point me bringing him back to Leeds unless he's going to go into our first-team squad. Going back out on loan will probably be the next step for him."