The Italian has been out of work since he was sensationally axed by Leicester City.
Despite leading the Foxes to a fairytale Premier League title triumph last season, poor results this campaign saw the club’s owners pull the trigger in February.
But now Nice have earmarked the lovable 65-year-old as the ideal man to replace in-demand boss Lucien Favre.
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Favre is expected to leave third-placed Ligue 1 outfit this summer, opening the door for Ranieri.
He already has a home on the French Riviera, and he also enjoyed a two-year spell in charge of Monaco before departing to take over the Greece national team in 2014.
Nice officials are already believed to have opened talks with the former Chelsea manager.
And Ranieri is believed to been keen on taking the job.
Nice, who have Mario Balotelli leading their attack, have performed well this season and sit just behind leaders Monaco and giants Paris Saint-Germain in the table.
Turkish outfit Antalyaspor have also launched an audacious bid to recruit the Roman Ranieri.
However, he is believed to be far more tempted by the prospect of playing European football with Nice next season.