James can join the Scottish side on a free transfer as the England keeper’s contract with Portsmouth has expired.
Celtic are keen to bring in a new keeper as Artur Boruc has left the Scottish side to join Fiorentina.
“David James is one of a few goalkeepers we’re looking at,” Lennon told the Daily Record. “He is only one of three or four we have in mind.
“We are open to the concept and we are hoping he will come up to have a look at the place when we get back and we’ll see if he fancies it. His experience appeals to me and, not only that, he is England’s No.1.
“It’s early in terms of negotiations and things like that. But the fact he’s interested is very encouraging from our point of view.
“I want to get the best goalkeeper I can possibly get, not only for the league and for Europe but also someone who can fill Artur’s shoes as well and he is one who can.
“Hopefully he will come up and I’ll have time to fill him in and have a chat with him. He’s a player I admire and respect and I think he would be fantastic for us.
“To have someone of that stature and calibre would be brilliant but it’s pretty early days to start commenting on that.”