Mills is set to line-up for Rovers in tonight's FA Cup fourth round replay against Aston Villa - just 48 hours after the collapse of a proposed £1.5m move to neighbours Birmingham City.
O'Driscoll says Birmingham's offer was 'ridiculous' but admits that he would have been prepared to sell if the package had been right.
Although Mills is still far from the finished article, O'Driscoll is confident that the 22-year-old has the potential to make it to the very top.
"If Matt is prepared to work extremely hard, he can be an extremely good player because he is talented but, of course, there are a lot of talented players who never get anywhere," said O'Driscoll. "How hard Matt works will decide how good he can be. As yet, we have only seen the tip of the iceberg."
Mills joined Rovers in a £300,000 deal last summer after helping the club win promotion to the Championship during a loan spell from Manchester City.
After a string of solid displays this season, he became a New Year transfer target for Birmingham who are in the hunt for promotion back to the Premier League.
Rovers received three seperate offers from the Midlanders during the transfer window and rejected the last just hours before Monday's 5pm deadline.
Reflecting on the saga, O'Driscoll said: "We would only have lost Matt, if we had got the price we wanted.
"Matt has attracted interest from various clubs because of how he has performed and it is probably the first time in his career that he has ever performed as consistently," he added.
"We were not looking to sell anyone but I told him that, if a bid came in that was acceptable, I would do as much as I could to help it go through if he wanted to go. The bid was unacceptable, though, so it never came to that."
Despite speculation linking Brian Stock with a move to West Bromwich Albion or Fulham, O'Driscoll confirmed that there had been no offers for the midfielder.
Tonight's replay at Villa Park offers Mills and Co another opportunity to pit their wits against one of the best sides in the country.
Whoever wins tonight will visit Liverpool or Everton in the last 16 but O'Driscoll has stressed it will take an immense performance by Rovers to get past Villa.
"The ingredients are there for an FA Cup shock but they will have to play poorly and we will have to play well," he said. "They have a potent front six and they are the best counter-attacking team in the Premier League. They could start with their big guns or may opt to stick them on the bench."
Winger Ashley Young and striker John Carew are both back for Villa after missing the first game but new signing Emile Heskey is not eligible and midfielder Stiliyan Petrov is banned after collecting his fifth yellow card of the season.
Stock (back) is the only injury doubt for Rovers who are without new signing Dean Shiels because he was registered after the fourth-round deadline.
O'Driscoll says Birmingham's offer was 'ridiculous' but admits that he would have been prepared to sell if the package had been right.
Although Mills is still far from the finished article, O'Driscoll is confident that the 22-year-old has the potential to make it to the very top.
"If Matt is prepared to work extremely hard, he can be an extremely good player because he is talented but, of course, there are a lot of talented players who never get anywhere," said O'Driscoll. "How hard Matt works will decide how good he can be. As yet, we have only seen the tip of the iceberg."
Mills joined Rovers in a £300,000 deal last summer after helping the club win promotion to the Championship during a loan spell from Manchester City.
After a string of solid displays this season, he became a New Year transfer target for Birmingham who are in the hunt for promotion back to the Premier League.
Rovers received three seperate offers from the Midlanders during the transfer window and rejected the last just hours before Monday's 5pm deadline.
Reflecting on the saga, O'Driscoll said: "We would only have lost Matt, if we had got the price we wanted.
"Matt has attracted interest from various clubs because of how he has performed and it is probably the first time in his career that he has ever performed as consistently," he added.
"We were not looking to sell anyone but I told him that, if a bid came in that was acceptable, I would do as much as I could to help it go through if he wanted to go. The bid was unacceptable, though, so it never came to that."
Despite speculation linking Brian Stock with a move to West Bromwich Albion or Fulham, O'Driscoll confirmed that there had been no offers for the midfielder.
Tonight's replay at Villa Park offers Mills and Co another opportunity to pit their wits against one of the best sides in the country.
Whoever wins tonight will visit Liverpool or Everton in the last 16 but O'Driscoll has stressed it will take an immense performance by Rovers to get past Villa.
"The ingredients are there for an FA Cup shock but they will have to play poorly and we will have to play well," he said. "They have a potent front six and they are the best counter-attacking team in the Premier League. They could start with their big guns or may opt to stick them on the bench."
Winger Ashley Young and striker John Carew are both back for Villa after missing the first game but new signing Emile Heskey is not eligible and midfielder Stiliyan Petrov is banned after collecting his fifth yellow card of the season.
Stock (back) is the only injury doubt for Rovers who are without new signing Dean Shiels because he was registered after the fourth-round deadline.