The Hammers find themselves all the way down in 18th with just three points from their opening four Premier League games.
As a result, Potter, 50, is under immense pressure to turn things around having only been appointed as manager back in January.
According to the Independent, the club are now weighing up their options and are considering the appointment of former Wolves boss O’Neil, 42.
O’Neil spent 18-months as West Ham as a player between January 2011 and June 2013, making 56 appearances and popping up with three goals.
It’s understood that his availability is a big draw with West Ham not having to pay a fee to another club in order to secure his services.
