The former England manager spent a lot of time north of the border running his Soccer Circus business before returning to Tyneside in January and believes the Scottish game is improving.
But he thinks he would have competition for any signing bids.
"I think you will see more and more Premier League managers looking at Scotland because there is some talent here," Keegan said.
"I don't mean this disrespectfully but probably, for the last six or seven years, that wasn't always the case.
"We are like any other club, we will look for talent wherever we think it can improve us. Whether it be Scotland, Lithuania, Russia, that's what you do.
"At the moment I think Scotland has got four or five players. (Alan) Hutton has just gone down to Spurs from Rangers and I think there are others here, definitely.
"I think they will interest everybody to be honest, not just me."