26-year-old Elding initially had talks with the Gresty Road outfit last month after both clubs had agreed a fee.
Elding, however, rejected a move at that time in order to fight for a first team place at Elland Road.
The former Stockport marksman featured nine times for the Whites after joining the club in January.
He scored his first senior goal in the 1-2 home defeat against Cheltenham in March and he also scored four times for the reserves.
Gary McAllister had advised the forward that opportunities would be limited next season as he was looking for other options up front.