Celtic will have to see off competition from Sheffield United and Colchester if they hope to land his signature, according to reports.
Celtic manager Brendan Rodgers
The Irish Sun claims that the Scottish Premiership champions are considering a move for the 20-year-old, but face competition from League One high-flyers Sheffield United, as well as Colchester United from the division below.
Sheffield United are also reportedly interested, as are Colchester
Dundalk are on the verge of clinching their third successive League of Ireland title, but O'Connor is yet to really make an impact for the side so far this season.
The youngster is still awaiting his first goal for the club, but did enjoy a promising loan spell with Derry City last season, where he scored three times in 10 games to help them remain in the top flight.
While O'Connor has not been lethal in front of goal, it appears that a move for him would come with little risk for Celtic as, according to Dundalk's official website, his contract is coming to an end at the end of the calendar year so his arrival would seemingly not deplete the funds available to Brendan Rodgers too considerably.
And if Rodgers or his backroom team see something in the youngster, getting him in and working alongside the likes of Leigh Griffiths and Moussa Dembele could be a great way to put him on the right path to realising his potential.