The Azzurri post will be vacated by Conte after Euro 2016, with the Italian announced as the new Chelsea manager on Monday.
And Guidolin admits he would relish the challenge of managing the four-time world champions should the opportunity present itself.
"From a personal standpoint I would be happy to take over the Italian national team," the 60-year-old told Gazzetta World via Radio Uno.
Guidolin's contract with Swansea will expire at the end of the season after the Italian was bought in on a short-term basis to work alongside Alan Curtis following Garry Monk's sacking in December.
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He has managed to help steer the Swans clear of the Premier League relegation zone but it remains up in the air as to whether he will stay beyond the end of the campaign.
Former boss Brendan Rodgers has been strongly linked with a return but regardless of speculation, Guidolin says he would like to stay with Swansea.
"My future [at Swansea] has yet to be decided," Guidolin added.
"I have a four-month contract here in Wales and I would like to stay, and the results suggest that could happen.
"I've heard some rumours here in Wales but my future has not been decided.
"We'll see how we end the season and what happens in the future."