The Dutch legend admits he would find it hard to turn down the chance to take over at the Rossoneri while reflecting on his time as a player for the Italian giants
Gullit was part of the legendary Milan team that swept all before them in the late 1980's and early 1990's.
And the ex-Dutch international revealed he had happy memories of his time at the Giuseppe Meazza.
Gullit told reporters: “I had the best time of my career with the Rossoneri.
“It’d be an honour if they were to call me for the bench. How could you say no to such an important club? You never know what can happen, although the team is in good hands right now,” he reassured current coach Massimiliano Allegri.
“When I landed at Linate, I remembered all the times I’d leave this airport with Milan for the Champions League games. Twenty-five years have passed, but for me it feels like only a year ago," he continued.
The Dutch legend then revealed his favourite to win this season's Champions League whilst praising the strength of English and Spanish teams.
"Clubs from England and Spain have that little extra compared to their continental rivals. Real Madrid, for me, are favourites however to win the Champions League with Barcelona slightly behind them," he added.
The recently turned 50-year-old also reflected on the current state of his former club which has gone through a massive change over the summer with the departures of many experienced and top level players.
"I am a bit spoiled as a fan of Milan because they used to win all the time. But, we must all support the club's new path which is aiming to straighten out its finances and get them in order. It is a difficult time but I am sure Milan will do everything to get back to winning again," he continued.
"Now the younger players will have more opportunity to make their mark and in the long run this can only be a good thing," he said.
"In the Netherlands, we have done this for years. Without the money to compete we have always focused on youth."
Gullit then praised Juventus, who claimed the Scudetto last season for the first time since 2004.
"They play great football. What Juve have done is a fine example of how to build a good Italian team," he added before advising that other Italian clubs should follow the Old Lady's example and build their own stadiums.
"A major problem in Italy is that of the old stadiums, with many dating back to 1990 when Italy last hosted the World Cup. At the Delle Alpi, Juventus's old stadium, the support was not great because it was such an old stadium.
"But, the new stadium for Juventus is always full and this has given the team a boost. Building the stadium in such hard economic times is difficult, but, other clubs should follow their example."