O'Neill - De la Pena needs to return
The Bhoys boss handed trials to both De la Pena and Portuguese striker Dani earlier this month.
Dani stayed for nearly four weeks, but he failed to agree personal terms and has now returned to his homeland.
De la Pena's situation is still ongoing, as he returned home to Spain after spending just a week training with Celtic.
He has since rejected a move to Qatar, which many thought was an indication he was set to sign for Celtic.
However, O'Neill has confirmed that De la Pena will have to return to Glasgow and train with his side again before any offer is forthcoming.
"I believe De la Pena is in Barcelona at the moment, but the offer for him to come back for some training in order that we can assess him a little further still stands," said O'Neill.
"As yet, that's the extent of it, though. There's no contract on the table."