The 65-year-old is looking to get back into club management, after having stepped down as England boss in February.
“England would be very interesting for me because I know very well the teams and the players,” Capello told the Times.
“I want to manage a team that wants to win something, if possible.”
Capello admits he is only keen on taking charge of a club who are capable of challenging in the Champions League.
“It has to be interesting based on the value of the team, not money. I don’t work for money,” he added.
“I want to manage a team that is able to play in the Champions League and to fight for lots of trophies.”