The newspaper claims O'Neill - a holding midfielder with Sydney FC - is weighing up a move to England amid interest from Blackburn.
But the recently-capped Australia international could be spoilt for choice with Rovers' Championship rivals, Bristol City, and two League One sides, Ipswich and Portsmouth, also being credited with interest.
O'Neill is understood to be available for £350,000, according to The Daily Mail.
And that might not be enough to deter either Blackburn, Bristol City, Ipswich or Portsmouth.
Blackburn, though, are perhaps the best fit for O'Neill, with the long-term futures of the 25-year-old's fellow midfielders, Jack Rodwell and Ben Gladwin, uncertain.
O'Neill has a UK passport, enabling to transfer freely to any club in the region.
Would O'Neill be a good addition for Blackburn, Bristol City, Ipswich or Portsmouth?
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