The Argentine enjoyed a successful period at San Siro as a player and has declined to rule out returning to the club.
Atletico Madrid coach Diego Simeone has stated that it would be an "honor" to take charge of Inter.
Simeone played for Inter from 1997 to 1999 and helped the club to a UEFA Cup triumph in 1998. The Argentine has since guided Atletico to glory in the Europa League, Super Cup and Copa del Rey after taking over the club in 2011, but did add he has no desire to leave his current post just yet.
"Inter? It would be an honor," 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 (Alex) Ferguson of the Colchoneros."
Atletico is level on points with La Liga leader Barcelona going into the second half of the season and Simeone, who won the Spanish title as a player with Atletico in 1996, has his eye on repeating the feat as a coach.
"It would be stupid not to think about that (winning the league)," Simeone added. "Especially in light of the league position."