The 53-year-old, who guided the Reds to both FA Cup and Champions League success during his time at the club, also believes his appointment would have been well greeted by the Liverpool faithful.
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"We know the club, the players, the Academy and we have even more experience now...the fans were positive about the idea."
Benitez left the Merseyside club by mutual consent during the summer of 2010 after a poor season saw his team finish seventh, missing out on a Champions League place.
But despite the sour manner in which his time at Anfield ended, Benitez was quick to point out what he achieved during his six-year reign at the club.
He added: "We used to play so many important games that it seemed it was normal and it wasn't.
"People were talking about 'the past', but just a few years ago Liverpool FC was number one in Europe."