Moxey confirmed negotiations had been "positive" with O'Hara after the player enjoyed a successful loan spell at Wolves during the second half of last season. O'Hara scored three goals in 13 games and played an important part in ensuring Wolves' Barclays Premier League survival.
Moxey said: "Discussions are ongoing and positive but that is all we would wish to say at this point. It should be pointed out that under the terms of Jamie's loan from Tottenham, he is our player until the end of June anyway, so no other club can get involved until after that date. We are entirely positive about the outcome of these discussions."
Reports that the deal has already been formally completed are described as premature but the player has already intimated he wants to make a full-time move to Wolves, and manager Mick McCarthy has also echoed those sentiments.
O'Hara was relegated when on loan to Portsmouth for the 2009-10 campaign but helped Wolves stay up on the final day of the last campaign with his goal against Blackburn.
O'Hara confirmed to Press Association Sport at the end of the season that he wanted to stay at Molineux, describing Wolves as a club which was "going forward".
He moved to Molineux in January with a view to the move being made permanent.
Source: PA
Source: PA