Gold Coast-born Dykes was with the Dumfries club as a 17 year old but returned to Australia where he played for Gold Coast City and Surfers Paradise Apollo before returning to Palmerston in 2016.
Since then the 22 year old has featured in nearly 80 games and scored eight goals .
He is understood to have impressed Hearts scouts during a number of games around Christmas.
Queens boss Gary Naysmith, a former Hearts full-back, has recently returned Dykes to a striking role after a run in midfield and Dykes set up two goals in his side’s recent 3-2 at Dundee United and scored in the 3-3 draw with Livingston last weekend.
Dykes’ form saw him rewarded with an improved contract in December and, as that now runs until the end of next season, Hearts would require to pay a transfer fee for his services if they firm up their interest over the summer.