"Ronaldo at Inter?" said Moratti on Canale 5 on Sunday. "If he feels good, psychologically and physically, if everything is okay, we could think of this.
Ronaldo has stirred controversy when he stated last week that he was not happy at Real Madrid because of the way club fans treated him.
The Brazilian's comments came on the eve of Real Madrid's UEFA Champions League clash against Arsenal, which the Los Meringues lost at home 1-0.
"Certainly, Ronaldo maybe has been wrong in saying these things in Madrid on the eve of a match, but this is his character," Moratti said commenting on Ronaldo's remarks.
Ronaldo's comments suggested he was on his way for a Santiago Bernabeu exit, which in turn linked him to a return to Italy.
"His return to Italy? Inter or Milan, but it's known these are all things we have already seen."
The three-time FIFA World Player had joined the 'galacticos' from Inter in 2002, causing a rift between him and the Inter fans.
"Anyway, it's true that a part of the Nerazzurri crowd doesn't love him, being offended by the way he left, and I understand it," added Moratti.