Ranieri, 66, has been linked with the vacant Italy post after Gian Piero Ventura departed following the country's failure to qualify for the World Cup in Russia.
Former head coach Antonio Conte, Carlo Ancelotti and Roberto Mancini have also emerged as possible replacements for Ventura, who presided over Italy's shock 1-0 aggregate play-off defeat to Sweden last year as the Azzurri failed to reach the World Cup for the first time since 1958.
And Ranieri has once again thrown his hand up to fill the void within the national team, despite only joining Ligue 1 outfit Nantes this season.
"Any Italian coach would love to be in charge of the Nazionale," Ranieri, who guided Leicester City to a remarkable Premier League title in 2015-16, told Sky Sport Italia.
"I have a contract with Nantes for two years and I have not received any messages, so I can't say anything.
"But if I were to be contacted for the Italy job, I'd go to the Nantes president and ask to be released."
Nantes are fifth in Ligue 1 this term, 10 points adrift of Lyon, who occupy the fourth and final European qualifying spot.