The highly-rated frontman has broken through the 20-goal barrier in each of the last two seasons, helping to underline his value as one of the most sought-after players in the country.
Deeney followed last seasons 20 goals in all competitions with 25 this time around and his form at Vicarage Road has not gone unnoticed among Premier League and top Championship sides.
Watford are bracing themselves for offers for the prolific hit-man knowing his suitors are hoping to lure him away from the club this summer.
Aston Villa and Newcastle are both thought to have identified Deeney as one of their top targets as they look to bolster their attacking options this summer, while Swansea are also firm admirers of the former Walsall man.
Championship promotion hopefuls Norwich, Fulham, Wigan and Nottingham Forest are also tracking Deeney as they see the striker as key to their plans of trying to win promotion back to the Premier League.
Watford would be loath to lose their talismanic striker, but know they could struggle to fend off any big-money offers for the 25-year-old should his suitors firm up their interest.