The former central defender represented Inter as a player and was an assistant coach during Roberto Mancini's period as manager.
Mihajlovic has had spells managing Catania, Bologna and Fiorentina, and was linked with the post last year.
Inter have completed two wins and two losses this term in Serie A under current manager Andrea Stramaccioni.
“I was close to taking charge of Inter in the past, but then nothing came of it,” said Mihajlovic.
“It’s not a closed chapter though because Inter are a dream for all coaches.”
Mihajlovic feels Stramaccioni could come good as Inter coach despite a faltering start to the league campaign that has left them six points behind unbeaten leaders Juventus after only four matches.
“He’s young, like me,” said Mihajlovic.
“But being talented is what is the most important thing and he did good things with the youth team.”