The Celtic boss is confused by talk of the Norwegian joining up with the Bhoys.
Indeed, the 16-year-old joined Real Madrid last season but has been linked with a loan move away from the club.
And Deila has clearly seen speculation linking Odegaard with a stint at Celtic. However, the Bhoys boss says any talk of the teenager moving to Parkhead has come out of 'nothing.'
Deila is quoted as saying by the Mail: "I don't understand how that is coming out, it is totally out of nothing.
"I spoke to Martin one time, in May, but that was just friendly. There was nothing about a contract and it's not something that we have on our minds."
Celtic have been busy in the transfer market so far this summer and a productive few weeks have seen them bring Dedryck Boyata, Saidy Janko and Nadir Ciftci to Glasgow.
All three of those new signings have featured in pre-season but it remains to be seen who plays when the Hoops take on Icelandic outfit Stjarnan in their Champions League qualifying opener.
Whether Odegaard would be a good move, meanwhile, is another tricky matter. The 16-year-old Norwegian is clearly a talent but would he offer anything for Celtic's first team while so young?
According to Deila's latest comments, though, there's no need to worry about that, anyway.