David Moyes will leave Goodison Park at the end of the season to become manager of Manchester United.
Hughes, who enjoyed one season at Everton during his playing career, admits the Everton role is a big opportunity for somebody.
Former Blackburn and Manchester City boss Hughes, who has been out of work since being sacked by QPR last November, admits the job would be one that would interest him as he looks to get back into management.
"I think when one manager leaves there are opportunities for other managers who are currently out of work, which includes myself," Hughes told Sky Sports News.
"It's a great club; it's a club that I had the fortune to play for and really enjoyed my time there.
"I got close to playing for them a number of times, but eventually made it towards the back end of my career and had a great, great period there and really enjoyed my time there."
Hughes admits whoever takes over from Moyes has a big job on his hands following the impressive work carried out by the Scot at Goodison Park.
"Whoever gets that opportunity, it's a big role, a big club and big shoes to fill because David Moyes has done an excellent job there and it's been done under difficult circumstances, sometimes with a lack of funds.
"But he has done a really marvellous job there so whoever goes in there it is very similar to David's situation; he has big shoes to fill.
"It's an opportunity for somebody and I back my abilities for most jobs in the Premier League.
"And it's a big job in the Premier league and there is only 20 jobs available so everybody wants to work in the Premier League if that's possible."