The Swedish international has reportedly become a target for the Championship big spenders following a season-long injury to first choice left-back Craig Forsyth.
According to reports in the Sun, as reported by the Derby Telegraph, the Rams are interested in loaning the player before the loan window shuts and then paying £1 million to sign the defender permanently in January.
When asked about the Derby rumours, the 27-year-old told the BBC: "I've no comments to that rumour. Right now, I'm a Blackburn player and I'm very happy at the club.
"They've given me the chance to play Premier League football and the chance to play regularly in the Championship.
"It depends what the club says and what they say I have to listen to while I'm under contract."
Should Derby make a move for Olsson?
Considering the circumstances, Olsson would be a fantastic signing for Derby and would certainly strengthen their bid for promotion.
He is a proven entity and has been recognised as one of the best full-backs outside the top flight for a number of years, as well as earning international recognition with Sweden along the way.
Nevertheless, now Paul Lambert is at the helm, the decision to loan and then sell one of the club's best players would be seen by supporters as huge blow to their own promotion hopes.
£1 million for a Championship player with just months left on his current deal seems like a good offer, however, Olsson is a player that Rovers should look to keep at all costs.