The Dutchman has been linked with a move away from Real Madrid this past week and Villa have emerged as a potential home.
O'Neill would be delighted to obtain the 25-year old as he goes about trying to strengthen the squad that performed so well last season.
"I think that the more creativity you have in your side the better chance you will have," the Villa manager said.
"These are particularly special players who are not [generally] available.
"If there were players like Sneijder, who have great talent and might be surplus to requirements at a club that is buying [new players], then I think you should be interested, even if that interest is not reciprocated. Because how else are you going to try and improve your team?"