The 24-year-old winger has failed to impress at Inter since joining the Nerazzurri last summer on a season-long loan.
The San Siro outfit have the option to buy Zarate at the end of the season, but the Argentine gave a very strong indication on Sunday that his time at the club is coming to an end.
"Right now, it is hard to say what Zarate's future will be like," agent and brother Sergio Zarate told Radio Mana Mana.
"Mauro still loves the city of Rome, as well as Lazio and their fans. Everything is in Inter's hands, but if they do not decide to exercise their buying option, Mauro would be happy to return to Lazio.
"If there had not been some misunderstandings with coach Edy Reja, he never would have left.
"This is why the prospect of a return to Lazio would be welcome, but we will respect what Inter decide to do."
Zarate, who cost Lazio €20 million in 2009, has made 11 competitive starts to date at Inter.
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