The Daily Record says Collins needs a new goalie following the departure of Simon Brown and has been alerted to the availability of the Parkhead youngster. But the player's agent feels salary levels could be a stumbling block.
It is believed the Parkhead keeper would jump at the chance to move to Easter Road and challenge Andrew McNeil for the No.1 spot.
However, agent Willie McKay said: "I can't see him going there because he would break Hibs' wage structure.
"Norwich made an offer to Celtic but they rejected that and that was the end of the matter.
"I can't see him going anywhere this summer unless a club comes in with a decent offer and can match his wages."