Rumours of a potential romance has been doing the rumour mill for a few years now, but it heightened since they took over the reigns as co-hosts of The X Factor.
Just last week, Olly showered Caroline with kisses after performing his single 'Kiss Me' on stage - but fans shouldn't read into it....
Speaking to Reveal at the Cosmopolitan Ultimate Women Awards 2015 with Baileys on Wednesday night (2 December), OIly said he and Caroline will never be anything more than friends.
"We're just best mates," he tells us. "We always get asked the same question, every week, every month, the last three or four years. We're just best mates, simple as that."
When asked what he makes of comments by Nick Grimshaw and Simon Cowell teasing a potential romance between the pair, Olly says: "It's just stirring the pot really, we know we're best mates - that's all it's going to be."
Following our chat with Olly, he presented Caroline with her award for Ultimate TV Personality, and at the after party, they took some celebratory snaps in the photo booth, where they cosied up together and appeared to kiss.
We reckon they're just teasing guys!
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