The 49-year-old has spent almost 12 months away from the dugout.
He was relieved of his duties at Stamford Bridge in the summer of 2018 as fellow countryman Maurizio Sarri made his way to west London.
Conte left Chelsea on the back of an FA Cup triumph, and with a Premier League title to his name, but was considered to be surplus to requirements.
A long-running legal battle with the Blues has dragged on since his departure, but the Italian is now preparing to return to the dugout.
He has been linked with various posts over recent months and appears to be heading back to his homeland.
It was suggested at one stage that he could be set for a second spell at Juventus having previously enjoyed considerable success as a player and coach in Turin.
Questions are being asked of Massimiliano Allegri’s future at the Serie A champions but Goal understands that Conte will not be replacing him.
He has also distanced himself from an imminent appointment at Roma , despite expressing a desire to work with the capital club at some stage.
With two positions being ruled out, the path has been cleared for Inter to make their move.
Goal understands the Nerazzurri are in discussions with Conte and have a lucrative contract waiting for him at San Siro.
Luciano Spalletti is currently at the helm, and has two years left on his deal, but he will be relieved of his services at the end of the season if a suitable successor can be found.
Conte is understood to be intrigued by the ambition at Inter and has publicly conceded that another role in Italy would appeal to him.