The Italian is full of praise for his former player, who has returned to parent club Arsenal after a spell on loan, and admits he would be keen to retain him permanently
The 31-year-old fell out of favour at the Emirates Stadium in the first half of last season and was subsequently shipped out to his former side for the rest of campaign in a bid to secure a place in Russia's squad for Euro 2012.
Arshavin impressed during his spell back home, scoring three times in 10 appearances, and Spalletti has since conceded the attacker forms part of his transfer wishlist ahead of the new season, which starts on Saturday.
"We will buy players," the Italian coach told Zenit's official website. "In my opinion Arshavin is a player of real class and, in addition, he is an intelligent man. It all depends on what his motivation is.
"I have little doubt about Arshavin. I'm sure if he came back, he would play as well as last season. He is one of the names that we have discussed."
Zenit won a second consecutive Russian Premier League title under Spalletti in May.