Ibrahimovic signed for Manchester United last summer despite the MLS side reportedly offering a big-money deal for the Swedish striker.
But rumours of another bid for Ibrahimovic have been swirling over the past few days suggesting the Galaxy would still like to sign the star after his current contract expires this summer.
"I think they do have a chance," Lalas told BBC Radio Five Live. "And whether it's this summer or maybe a year from now I still think there’s going to be interest."
Lalas was the Galaxy's general manager in 2007 when the club brought on Manchester United legend Beckham, who became the league's highest-paid player.
The Beckham signing opened the door for other high-profile European players to enter the league, changing the transfer landscape in MLS forever.
"The David Beckham thing didn’t happen overnight," Lalas said.
"There was a relationship that was fostered and cultivated over the years and then when that perfect moment came they were ready to act, not just with the money but with the entire package."
Lalas believes the Galaxy can sell Ibrahimovic on more than just the amount of money the team are willing to pay him, but rather the impact living in LA could have on his personal brand.
"There’s a lifestyle issue that is very, very attractive to people and the opportunity for him to come into this market in North America and just inject that Zlatan brand to a public that, while many soccer people know, the people outside of soccer maybe don’t know," Lalas said.
"And that can be very attractive to people that are concerned and cultivate a brand."