The 51-year-old former Republic of Ireland international has been without a post since leaving Villa Park by mutual content in July 2006.
O'Leary has had offers to get back into the game, although the positions have not been of a high enough calibre to tempt him into accepting.
The ex-Arsenal defender has not ruled out dropping out of the Premier League to accept a Championship post or one day returning to Leeds.
O'Leary: "I've had requests to go back into football and it's not me bigging myself up or thinking I deserve a bigger job but I just felt that the jobs weren't right in any way.
"I've had lots of offers mainly from abroad and I think that can only come from people remembering Leeds in the Champions League.
"Ideally I'd love to get back into the day-to-day stuff. I'm a worker. I'd take a Championship job definitely if it was the right one. Dave O'Leary needs to be working. Dave O'Leary doesn't want to be playing golf.
"Some with loads and loads of dollars. Jose Mourinho was very good and recommended me for a really big job but I just felt I couldn't live where it was with the family really. That was about six or seven months ago."
O'Leary, despite being blamed by some as one of the factors behind their dramatic fall from grace, has not ruled out returning to Elland Road.
But insiders say he would jump at the chance of managing Newcastle, should Alan Shearer return to the 'Match Of The Day' studio.