Ranieri has confirmed that he will leave Nantes if he is offered the Italy job.
The 66-year-old is believed to be one of a number of candidates being considered for the role following the departure of Gian Piero Ventura last November.
"Any Italian coach would love to be in charge of the national team," Ranieri told Sky Sports 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."