The 48-year-old spent two years with the Azzurri, guiding them to a quarter-finals appearance at Euro2016.
Speaking before Italy's World Cup play-off loss to Sweden, Del Piero said he would one day like to see the Chelsea boss return to International management.
"He did great with Juventus of course and a great job with the national team," Del Piero told Sport360.
"We would love to have him back in Italy, of course, because he is a great coach.
"He would improve any team and this is what he did with Chelsea last season and what he did with Juve as well.
"We had some problems and he fixed it, then won the title.
"He has some amazing qualities and that's why he's coaching the best teams in the world.
"I hope he will have a great period with Chelsea and then maybe one day come back."