According to a report in the player’s homeland, both teams are keen on the forward after a strong season for Danish side Randers.
The 24-year-old was on loan from Genk but his form, which included 13 goals, saw the Danes make the move permanent with Odey becoming the club’s record buy.
Now they are preparing to sell the player with a price tag of around €4million.
There has been interest in the former FC Zurich and Amiens striker from Belgium but no team has met the asking price.
Celtic have reportedly enquired about the price, while Rangers’ interest is further along.
The Ibrox club have also been linked with Sunderland and Scotland striker Ross Stewart as they look to bolster their attacking options with Cedric Itten having left.
Odey is the latest player linked with a move to Celtic, who have also been credited with an interest in midfielder Alfa Semedo.