"When I first heard about the vacancy for the Orlando Magic general manager position, I was clearly intrigued," O'Neal said in a statement Thursday. "I was drafted by the Magic, I have a great love for the franchise, and I have made the city of Orlando my home. Additionally, I have great admiration and respect for the DeVos family.
"However, this is not a job I have an interest in pursuing. I feel very fortunate to be with TNT and to have the best job in sports. I look forward to many more years with Charles (Barkley), Kenny (Smith) and E.J. (Ernie Johnson). I wish the best for the Magic and I am confident that they will select a great GM and coach."
Although O'Neal -- currently an analyst for TNT -- has no front-office experience, sources told ESPN The Magazine's Chris Broussard that the Magic believed O'Neal's presence within the organization could help them retain Dwight Howard.
Howard has flip-flopped on whether he wants to stay with the organization.
Magic officials told ESPN.com's Marc Stein Wednesday night that they will not publicly discuss the process or timetable of their coach and general manager searches in the wake of Monday's dismissals of Stan Van Gundy and Otis Smith, respectively.
O'Neal played for the Magic from 1992 to 1996 and led the club to the NBA Finals in 1995. O'Neal kept his home in Orlando after leaving to join the Los Angeles Lakers in 1996.