The 27-year-old left the City Ground to move to Parkhead two years ago, but Forest boss Billy Davies is keen to tie up his return.
Wilson was a key figure for Lennon's men as they marched through last season's Champions League group stages and was rumoured to be on the verge of an England call-up.
The Hoops boss does not want to lose the former Notts County and Preston player and has told Forest their offer is well short of the sum they value Wilson at.
Lennon told several newspapers: "There was a bid came in on Friday. I haven't had the chance to digest it yet but on the surface it's not going to be anywhere near enough.
"He was very consistent last year and showed his qualities and the reasons why we bought him.
"He's got two years left on his contract so he's in a stable position as far as that is concerned. There's no need to push the panic button. I didn't get the chance to speak to him about things yesterday but I'd imagine he'd want to stay.
"Funnily enough he is in Nottingham for the weekend but that's purely coincidental."