The 31-year-old is a free-agent this summer after his contract at Qatari club Lekhwiya came to an end last month and Leicester are one of many clubs interested in the defender.
Bougherra spent five years in Britain before moving to the middle east in a £1.7 million from Rangers after spells with Crewe Alexander, Sheffield Wednesday and Charlton Athletic.
He is currently focused on Algeria's World Cup campaign and will hope to captain the side to their first win in three finals this summer, but is hoping to play in England once more next season despite receiving offers from abroad.
"I would definitely favour a move to England if the right opportunity comes up," Bougherra said speaking to Sky Sports.
"I am not aware of too much it at this stage about my future as I am thinking purely about Algeria and the World Cup, but I do know of offer from Turkey and France."
The former Rangers centre-back is thought to have many options in England with Newcastle, QPR, Burnley and Leicester all said to be keeping tabs on him, though no offers have been made as of yet.
Any negotiations will take place after the World Cup but Foxes manager Nigel Pearson will be watching his performances closely.
Leicester winger Riyad Mahrez is also a part of the Algerian squad and City fans will be watching both his and Bougherra's performances with interest.
Nigel Pearson has already added experience to his defence with Matthew Upson set to join on July 1, and the signing of Bougherra would only improve the Foxes defence ahead of their first Premier League season for ten years.