The Serie A and Coppa Italia winners were set to make a lucrative offer to England manager Fabio Capello but reports suggest they will now go after Benitez to replace Jose Mourinho who signed a four-year deal with Real Madrid.
"Benitez is a manager I have always considered very good but for the moment he is engaged," Inter president Massimo Moratti said.
An Italian source added: "Inter have been happy for everyone to think they want Capello as it's taken everyone's attention away from Benitez."
Although there is interest, it is unexpected that Benitez will take the job as it the treble that Mourinho produced will be an impossible act to follow.
An insider added: "How could Rafa possibly do any better than Jose? The only way is down."