The Argentine enjoyed a successful period at San Siro as a player and has refused to rule out returning to the club in the future
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 honour," 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 are level on points with La Liga leaders 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."