The Uruguayan forward joined Saints in a big-money deal from Bologna 12 months ago and reports have linked him with a return to Serie A during the current transfer window.
Ramirez's representative has now revealed to the Italian press that he feels a move could happen, but has warned that Inter would have to pay a lot of money.
"I have not personally had any contact with Inter, but there could well have been discussions between the clubs," agent Pablo Betancourt told Ilsussidiario.net.
"Should it be possible? I'm convinced that everything can be done if there is the money to do it.
"For Ramirez the English side made a big sacrifice, so if Inter like him they will have to pay a big sum.
"Italy is in Ramirez's heart, but I don't like talking about things that are not concrete.
"Should there be an offer, then we will evaluate."
Betancourt added that Inter had also monitored Ramirez's situation before he made the switch to Southampton last summer for a reported £12million.
He said: "Inter looked for the player before he signed for Southampton, but the affair failed."