The Nerazzurri supremo is keen to lure the Chile international to Serie A, while he has also set his sights on a new attacker
Walter Mazzarri's men had to settle for fifth spot in Serie A in 2013-14 and consequently missed out on Champions League football for the second year in a row.
Nevertheless, Thohir believes Inter can return to European club football's elite competition again with the right signings.
"Inter's objective for 2014-15 is to qualify for the Champions League and I think we can make it with the arrival of Medel in midfield and a great new striker," Thohir was quoted as saying by Corriere dello Sport.
The 26-year-old Medel has a contract with Cardiff until June 2017 and the Welsh outfit have no intention of letting go of the combative midfielder - who can also play as a defender - for anything less than the €14 million they paid Sevilla in the summer of 2013.
Medel was part of the Chile squad that impressed at the 2014 World Cup, making four appearances for the South Americans.