The Dutch tactician enjoyed a short yet fruitful spell in England with Chelsea in the second half of last season in which he steered the side to FA Cup glory and a semi-finals berth in the Champions League.
But given the nature of the appointment, in which he agreed to simutaneously manage the reigns of the Blues and the Russian national team, his English adventure was concluded at last season's end.
Thereafter, his tenure with Russia was ultimately marked by the nation's inability to quality for the upcoming World Cup thanks to a away-goals loss to Slovenia in November's playoffs.
The former Australia and Korea Republic boss has also been heavily linked with Serie A underachievers Juventus but recent reports suggest he will not displace Ciro Ferrara at the Turin club.
Now, the former PSV Eindhoven man has subtly indicated his preference of a return to English shores. Reports suggest that the allure of Anfield could be too great to resist for the Dutchmen, who is set to seek permission for a release from his Russia national team duties from Chelsea owner Roman Abramovich.
"The first thing I want to do before making any decision on my future is speak with the federation president but I would like to coach in England again," he said in The Guardian.
He continued: "After all the support I’ve received from Roman Abramovich I owe it to them to discuss anything with them first."
Bookmakers Paddy Power have rated Guus Hiddink a 9/2 chance of taking over the reigns at Liverpool. He came in third behind Reds legend Kenny Dalglish and Inter boss Jose Mourinho who were rated at 11/4 and 7/2 chances respectively.