The 18-year-old is regarded as one of the most promising players in Britain and was named Scotland’s Young Player of the Year on Sunday.
“Portsmouth have made a written, formal offer for James but we have rejected it out of hand as it does not come close to our valuation of the player,” Hamilton chairman Ronnie McDonald told the Daily Record.
“James has two years left on his contract and has repeatedly said he is happy here. He and the rest of our talented young players know we will not stand in their way when an offer comes in that is right for them and for the club.
“There have been a lot of verbal enquiries and offers for James but Portsmouth is the first written offer.”