The Nigerian defender left Hibs at the start of January after invoking a clause in his contract that allowed him to depart for free, but so far the 30-year-old has not signed for another club despite having multiple reported offers on the table.
Ambrose was spotted in the Main Stand at Easter Road on Saturday as he watched his former team-mates defeat Elgin City 4-0 in the William Hill Scottish Cup.
“He just came to see the game,” said Lennon. “I think he is still pursuing a few options.
“There were some who thought that meant he may be coming back, but that wasn’t the case. If he wants to he will be welcomed with open arms, but I’m not too sure that is going to be the case.”