The Italian resigned from his post at Schalke earlier this week after the club finished sixth in the Bundesliga table and missed out on Champions League football.
The Italian earned a name for himself after winning the Champions League with Chelsea and though he was sacked the following season, he still has a solid reputation in England.
West Ham and Sam Allardyce parted company minutes after their final game of the season and the Hammers are looking for a manager who can take the reins of the team before their much anticipated move to the London Olympic Stadium in the 2016/17 season.
However, West Ham are not the English club after him as Newcastle are also considering Di Matteo as their next full-time manager as John Carver is expected to leave after narrowly saving the club from relegation to the Championship this season.
Italian giants Napoli are also eyeing the former Chelsea boss as a replacement for Rafael Benitez, who is expected to join Real Madrid this summer.