The former England player made his initial reputation with the Foxes before signing for Liverpool a decade ago.
Now there has been speculation that a return to his first club is a possibility.
Villa caretaker boss Kevin MacDonald said: "I worked with Emile as a young boy at Leicester and I've got a lot of time for him.
"I've not had any talks with Leicester.
"I live quite close to Leicester so I know quite a few of the people there and there has been nothing at all.
"I think Emile Heskey is a very, very good footballer. You don't play as often as he did for England if you are not a good player."
MacDonald hinted that Heskey still has an important role to play at Villa.
He said: "In my opinion, he has been a top player for a long time. You don't play for Liverpool and win trophies if you are not a good player.
"Aston Villa need as many good players as they can and then to develop some other ones as well."