The Argentine, now in charge of Atletico Madrid, enjoyed a successful period at San Siro as a player and refuses to rule out returning to the club in the future
The Argentine played for the Serie A giants between 1997 and 1999 and helped them to a Uefa Cup triumph in 1998.
Simeone has since guided Atletico to glory in the Europa League, Super Cup and Copa del Rey after taking over the club in 2011 but adds that he has no desire to leave his current post just yet.
"Inter? It would be an honour," Simeone told Il Giornale, "but, for now, all that talk is left to the newspapers.
"I see myself at Atletico Madrid for some time yet. Some say I might become the [Sir Alex] Ferguson of Los Colchoneros."
Atletico are level on points with La Liga leaders Barcelona going into the second half of the season and Simeone, who won the Spanish title as a player with the capital-city side in 1996, has his eye on repeating the feat as a coach.
"It would be stupid not to think about [winning the league]," he conceded, "especially in light of the league position."