The coach, who saw his side beaten 3-2 by Fortuna Dusseldorf on Sunday, wants to put one of his French charges as the club skipper for the upcoming season
The principality club secured promotion in May to the top French tier and has boosted their ranks with the likes of Radamel Falcao, James Rodriguez, Joao Moutinho and Ricardo Carvalho.
The Italian trainer has named three leading candidates to be Monaco skipper this season - new signings Jeremy Toulalan and Eric Abidal, and last season's leader Valere Germain, who came through the club's youth ranks.
"I’m considering between Germain, Toulalan or Abidal [to be our captain]," former Chelsea boss Ranieri told gathered media. "Abidal is coming from the Monaco academy.
"Toulalan is a midfielder, he can speak with everybody, the players, the referee, while Germain was our captain last season in Ligue 2."
Radamel Falcao and James Rodriguez scored their first goals for the club Sunday but were unable to help prevent Monaco from being defeated 3-2 by Fortuna Dusseldorf, though Ranieri is not concerned by the loss at this stage of pre-season.
"While I am not happy with the result, I am satisfied with the work done by the team," the Italian said on Sunday after full-time.
"The most important thing is our fitness and that we will leave without injuries. We are working hard right now and Dusseldorf are ahead in their preparation."