The Norwich boss has been linked with the Irish job vacated by Giovanni Trapattoni following the Republic's 1-0 World Cup qualifying defeat by Austria.
Hughton, who was born in England but qualified to play for the Republic through his mother, played 53 times as full-back for Ireland between 1979 and 1991. He also served as the national team's assistant manager under Brian Kerr from February 2003 to October 2005.
Hughton, however, steered Norwich to Premier League survival last season and brought in eight players over the summer, including Dutch striker Ricky van Wolfswinkel, at a cost of around B£25million.
Hughton, who has been linked with the Irish job along with others such as Martin O'Neill and Roy Keane, said: "I understand my name has been mentioned along with other previous players for Ireland. It is absolutely just speculation.
"I am manager of Norwich, I am extremely happy here. We spent and invested more this summer than we ever have done. I have had support from the board here. I have a group of supporters who are fanatical and want this team to do well and I have the same challenges here as the supporters and the players have. I am incredibly happy here.
"There has been no official approach. We are a club I would like to think which is going in the right direction."