But Wasps director of rugby Tony Hanks has claimed that no such talks have taken place.
"We haven't signed Gavin Henson, we are not in any negotiations with Gavin Henson and I do not expect him to be at this club this season," Hanks told the Daily Mirror.
"Would I know about it if anyone else in the club had signed him? Absolutely. Do I think that would happen? No I don't.
"I have become irritated by this. As far as I'm aware the guy's doing some dancing and he's under contract at Ospreys.
"There are 35 guys in our squad who deserve our attention and time. We should be talking about them. Guys like Tom Varndell and Dan Ward-Smith, who have committed for two more years here. To be honest, I'd rather do that."
Henson hasn't played rugby for 18 months and is currently on unpaid leave from the Ospreys.
The 2005 Lions tourist recently signed up for the BBC reality TV show Strictly Come Dancing but was still revealed as the face behind the Welsh Rugby Union's advertising campaign for the new Wales kit last week.
Ospreys director of coaching Scott Johnson has since re-iterated his belief that Henson should honour his current deal if he does return to rugby, while Wales and Wasps coach Sean Edwards has followed Hanks in stressing that his club have no intention of attempting to sign Henson while he is under contract.
"Do we negotiate with someone contracted to another club? No we don't," said Edwards.
"Nor are we in a position to pay transfer fees. Our owner has spent £4 million up to the salary cap and we are grateful for that."