The Blues reportedly had a bid for the Serbian rejected earlier this year but the centre-back remains hopeful of getting the chance to prove himself in English football one day
The Serbia international still has two years to run on his current contract with the German champions and insists that he is happy at Signal Iduna Park.
However, Subotic, who was heavily linked with Chelsea during the January transfer window, would relish the opportunity to ply his trade in the Premier League one day.
"It's just a thought, if it fits at some point," the centre-back told Kicker. "I want to compete where it's hardest. I think the way they play there is cool."
Dortmund lost Shinji Kagawa to Manchester United early in the summer but have been boosted by the arrival of Marco Reus, Leonardo Bittencourt, Julian Schieber and Oliver Kirch, while Mario Gotze and Mats Hummels have both committed themselves to the club in recent months.
Consequently, Subotic is confident that Jurgen Klopp's side will prove just as competitive and united as they have been in recent seasons.
"We have been particular [in recruitment] so that we don't get a diva in the team," the 23-year-old explained.
"I see no reason to change that. This could happen only with an aggressive character. Reus is a humble kid.
"And the guys who got new contracts absolutely deserve them. I do not begrudge them that. I know how much they have worked for it. Extending a contract on better terms is just a recognition of performance."
Subotic joined Dortmund from Mainz in 2008, and has won 31 caps for his country since making his international debut three years ago.