The Northern Irishman indicated earlier this week that he would be open to the idea of speaking to Hibs about the possibility of replacing Alan Stubbs, who left to take charge of Rotherham United.
Bookmaker Ladbrokes temporarily suspended betting on Lennon landing the job on Thursday, although it transpired that there had been no direct contact between the parties at that point.
However, dialogue was opened yesterday, with Lennon understood to be the primary target of the Easter Road hierarchy. After returning to Scotland following a golfing trip to Ireland, the 44-year-old former Celtic manager was due to meet his representative last night to discuss further the possibility of succeeding Stubbs.
Lennon, who was previously linked with the Easter Road job following John Collins’ departure in 2007, is keen to return to management after a chastening experience at Bolton Wanderers, with whom he parted company in March following 15 months in charge.
As serious financial problems took hold of the Lancashire club, Lennon was unable to prevent their slide towards League One.