"It would be a great pleasure to coach the team. Bayern Munich are Bayern Munich - they are one of the world's biggest clubs," Mancini told Calciomercato.it.
Former Germany coach Jurgen Klinsmann endured a disappointing debut season with Bayern.
The Bavarians, who face a fierce battle against the likes of Wolfsburg and Hamburg to retain their Bundesliga title, were knocked out of the German Cup and the Champions League.
Pressure is mounting on Klinsmann as reports suggested that Bayern would relieve him of his duties if he failed to steer them to a league triumph.
Bayern's Italian striker Luca Toni said recently that it 'would be really good for the club' if his compatriot Mancini took over.
"There has not been any contact because Bayern have a coach already and they are fighting for the championship," Mancini, who has been out of job since leaving Inter Milan at the end of last season, added.