Clough was relieved of his managerial duties at Pride Park back in September.
He has conceded that he will look to return to familiar surroundings for new recruits in January.
Clough was initially coy when it came to the identity of possible targets, but has now revealed that Russell is in his thoughts.
He took the Scot to Derby over the summer and would welcome the opportunity to be reunited at Bramall Lane - if the opportunity arises.
Clough said in the Derby Telegraph: "It's fair to say that he is on the list.
"Then again, so are a few others.
"Johnny has got good qualities but we've not spoken with anyone about him yet because the window hasn't opened.
"We'll have to wait and see what happens because he's not the only one we're looking at."