The former Norwich City boss was photographed outside Deepdale on Monday afternoon with Peter Ridsdale, the advisor to PNE owner Trevor Hemmings.
Neil, 36, is currently without a job since leaving the Canaries in March.
He guided Norwich to promotion to the Premier League via the play-offs in May 2015.
Previously Neil had managed Hamilton Academicals, winning promotion to the Scottish top flight at the end of his first season in charge.
His playing career saw him turn out for Airdrie, Barnsley, Mansfield and Hamilton.
North End are looking for a successor to Simon Grayson who left Deepdale last Thursday to join Sunderland.
Grayson was in post at Deepdale for four years and four months.
PNE indicated over the weekend that they were drawing up a shortlist, ready to start interviewing this week.