Maradona had previously coached Argentina from 2008 till the 2010 World Cup, but his tenure came to a premature end as Argentina lost 0-4 to Germany in the World Cup quarter-finals.
He then enjoyed a stint in Dubai with Al Wasl in 2011, but was sacked a year later. Since then he has not undertaken any managerial role.
However, Argentina are looking for a replacement for Gerardo Martino, who resigned after Argentina lost to Chile in the final of the Copa America Centenario a few weeks ago.
And Maradona, who won the World Cup with Argentina in 1986, is hopeful that he will be considered for the job.
"(Diego) Simeone was not interested in the job for financial reasons. Money is not an issue for me," Maradona was quoted as saying by Fox Sports on Wednesday.
"A lot of people seem to think I am an expensive coach. But what about Mourinho? And Ancelotti or Simeone? I don't know how expensive I am compared to these coaches," he added.
"I would coach the national team for free."
The 55-year-old further stated he wants to revive his coaching career as he misses being among the players.
"I am starting to miss coaching more and more. I miss working with the players and fighting with the journalists," he said.
Argentina will be guided by caretaker coach Julio Olarticoechea during the 2016 Olympics in Rio de Janeiro.