The Italian stepped down from the Three Lions post last year after a fall out with the Football Association after he publicly challenged their decision to strip John Terry of the captaincy.
Capello has since taken over at the helm of the Russian national side and has led them to four wins in as many World Cup qualifiers.
But the 66-year-old is not ruling out returning to England if a Premier League offer comes along.
He was quoted as saying in The Sun: "I am available and would be flattered to be linked with jobs in this league.
"What I miss about football in England is that the stadiums are packed."