Creative midfielder Huddlestone, who could well figure in Fabio Capello's plans for the World Cup in South Africa next summer, could be available for around £5m meaning he is well within budget.
The young dynamo would also fit perfectly into O'Neill's squad ethic and his Premier League experience at such age makes him a top target.
Spurs boss Harry Redknapp has already announced his intention to let go of some of his fringe squad members and Huddlestone could be part of that cull.
If that is to be the case then O'Neill and Villa would be very grateful recipients of a talented individual.