But his profile has been raised even higher this season after a series of fine performances and he has been linked with a £15million move to Arsenal.
Agbonlahor earlier this week pledged his future to Villa but O'Neill is contemplating further rewarding the England Under-21 striker.
When asked if Agbonlahor could earn a new deal, O'Neill said: "We will revisit every situation that we think merits that.
"Gabby has done exceptionally well, he is attracting a lot of attention and we are delighted that he is.
"He is playing very well and stories like that (linking him with Arsenal) will obviously follow."