With three potential successors to O'Driscoll in the shape of McFadden, Luke Fitzgerald and Brendan Macken already in the squad the Leinster coach is playing his cards close to his chest.
However, while O'Connor is confident in the talent he has at his disposal he is refusing to rule out a move for a world-class player.
"Firstly, replacing Brian O'Driscoll has its own issues," said O'Connor.
"There are not many blokes who are, if I am being perfectly honest, good enough to fill the No.13 shirt for us who are on the market.
"We are pretty confident at the moment with the bodies we have got in our squad that we can cope with that void in the short-term.
"And we will look at the options in and around that at an appropriate time in the future."