The Bolton News says it was widely rumoured O'Brien could be heading back to Newcastle United, following Chris Hughton's loan enquiry back in January.
But the Toon boss reckons the newly-promoted Magpies are focusing on younger targets.
"There's been talk about Sol Campbell and Andy O'Brien in the past and there are always names that keep coming up - but we have not looked into signing those players," he said.
Leeds, who are gearing up for their return to the Championship, are understood to be preparing a cash move for the former Republic of Ireland international after Sheffield United's Chris Morgan turned down a move across Yorkshire.
O'Brien has been told by Wanderers that he can talk to other clubs, although any move would involve a transfer fee as he has one year left to run on his current contract.