Craig Brewster is in talks with Inverness Caley about a return to the club as new manager.
Aberdeen have made it clear that they would not stand in the way of Brewster resuming a managerial role and Jimmy Nicholl, the Pittodrie assistant manager, confirmed that the 40-year-old striker would be speaking to Inverness.
Lennon is keen to enter coaching in the future, but his representative, Martin Reilly, insisted that considering a quickfire return to Scotland was not the best option.
"There was contact, but I spoke to my business partner, Mark Donaghy, and it was decided that it was better for Neil to remain in England and concentrate on his football with Nottingham Forest," said Reilly.
"Neil is obviously honoured that Inverness thought about him because they are a good club, but it's not something that is right for him at this stage."