The 31-year-old is therefore available on a free transfer this summer and is looking for a longer contract of around two or three years after being a key player for the Clarets this season.
A standout performer
There is no doubt that the Scottish international has been one of the standout performers in what has been a superb season for the Lancashire club as they finished six points clear of the relegation zone.
Since joining Burnley from Hull City in a £3 million transfer in 2014, he has made 112 appearances and scored 12 goals. However, it is his work rate and energy levels which have made him a fans favourite during his time at Turf Moor.
Rise up the football pyramid
Boyd started his career at Stevenage who at the time were playing in the Conference Premier. He made his debut when he was 17 years old and went on to make 110 appearances for Borough scoring 23 goals in the process.
This led to what at the time was the record transfer in non-league football as he was signed by Peterborough United for £260,000 in 2007. His time at Posh was a very successful and he is seen by many as the club's best ever player. He made 263 appearances overall and scored 64 goals.
During his spell at London Road, he was loaned out twice to Nottingham Forest and Hull City. At Forest he only made six appearances in which he found the back of the net once. His loan spell with the Tigers was far more successful which led to him signing a two-year deal with the club in 2013. He made a further 30 appearances for the club scoring two goals.
Establishing himself in the Premier League
Boyd then secured a move to Burnley in 2014 on a three-year deal. Since then, he has established himself as a key player in Sean Dyche's team and as a useful Premier League player in general.
There is no doubt that Dyche and everyone connected with Burnley would be disappointed if Boyd was to move on elsewhere as he would be a difficult player to replace.
A host of clubs interested
Championship clubs Derby County and Aston Villa are said to be interested in securing Boyd's signature but it is the Rams who seem to be most interested at this point.
Both clubs will be desperately looking to gain promotion to the Premier League next season and have a history of spending big in the transfer window in recent years. Gary Rowett is willing to listen to offers for the likes of Tom Ince, Jason Shackell and Darren Bent in order to finance deals for the players he wants to bring to Pride Park.
Steve Bruce is also keen on Boyd with a winger high on the list of his priorities this summer. Bruce is looking for around four new signings this summer as he looks to make Villa competitive at the top of the division.
Another club which could reignite their interest is Nottingham Forest. He has already had a loan spell at the club and has come close to rejoining them since on numerous occasions, most famously when he failed a dubious eye test which led to the resignation of Alex McLeish. If Mark Warburton is interested in bringing Boyd back to The City Ground, he is likely to receive the financial backing needed from new owner Evangelos Marinakis.