The 24-year-old has proved a big hit with the relegation battlers since moving from Tottenham to the Midlands on loan until the end of the season.
O'Hara, who did not play any part at Spurs in the first half of the season due to a back injury, has already spoken of his desire to stay on at the club.
Enlarge?Sprouting wings: O'Hara scored his second Wolves goal against Blackpool
While McCarthy would welcome such a scenario, he admits to being unsure as to whether a deal is already in place.
'It's not just a case of me wanting him here but he wants to come here as well,' McCarthy told the News of the World.
'He is a chirpy character to have around the place as well as being a very good player.
'Whether there is a deal already in place to sign him from Spurs - that is down to our chief executive Jez Moxey.'
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Source: Daily Mail
Source: Daily Mail