Conte's contract with the national side expires at the end of the European Championships and he has yet to make a decision on his future.
The Italian coach lead the national side to the Euros with an undefeated qualifying campaign, but has been studying English and has been linked with a return to club management.
Tavecchio, though, maintains the door is open for him to extend his stay and build towards the 2018 World Cup in Russia.
"I’m sure that he will renew, he is like a son to me," Tavecchio told Rai Sport.
"However, if he decides to look elsewhere, then we will find a capable replacement.
"The fact that he has been studying English for a year is not a shock. Today it’s only right to know the language."
Italy will face Belgium, the Republic of Ireland and Sweden in Group E at the Euros in France in June and July next year.