The reigning PFA Scotland Player of the Year is due to see his current contract at Parkhead expire in the summer.
Celtic manager Ronny Deila has previously stated in the Daily Record that he would like to keep his ‘best players’ at Parkhead and revealed at a press conference on Thursday that he hopes to retain Commons.
He has, however, overlooked him on a regular basis this season and is yet to get the Scotland international to commit to fresh terms.
That has left the door open to offers during the January transfer window, and Lennon admits he is among those looking to lure the former Nottingham Forest and Derby County midfielder back to England.
He told BBC Radio Manchester: "Is there interest from us? I know Kris very well but whether we can get a deal done there is another thing.
"I think there is other interest in Kris. It wouldn't surprise me because of the quality of player that he is, but I know Celtic will do all they can to keep him there as well."
Commons has spent the last four years in Glasgow, during which time he has helped Celtic to three league titles and two Scottish Cup successes.
He netted 32 times in all competitions last season, but has managed just six in the current campaign.
At the age of 31, he should still have plenty of football left in him and possibly one more big move.