As reported by the Telegraph, Laudrup will consider a return to the Premier League this summer, if Newcastle or West Ham approach him concerning their managerial appointments.
The former Swansea boss - who led the Welsh club to the League Cup - is currently working in Qatar, although his contract with Lekhwiya expires next month.
West Ham are searching for a new manager following their announcement that Sam Allardyce will leave the club this summer at the end of his contract, whilst Newcastle are also keen to hire a replacement for caretaker boss John Carver, despite him leading the Magpies to Premier League safety.
Both clubs are keen on hiring a progressive manager who can move forwards and establish their Premier League status, whilst potentially pushing for Europe, and the report states that Laudrup would consider a return to the Premier League should he be approached by either of the two top flight outfits.
He proved with Swansea that he could take a club to the next level, whilst also bringing silverware, and he showed an adeptness at finding bargain signings in the transfer market.
However, his second campaign with the Swans saw them suffer a significant loss of form, and he was sacked in February 2014, with them residing just two points above the relegation places.
There was a belief that he had lost the trust of the players, making his position as manager untenable, with some clear divisions amongst the playing squad due to his management style.
Laudrup plays a highly energetic attacking style, usually favouring a 4-2-3-1 system with wingers involved heavily in the goalscoring approach. He focuses upon pressing high up the pitch, and his Swansea team were known to be entertaining, which is something that both Newcastle and the Hammers are keen to bring to their respective sides.
When Laudrup left Swansea, he had managed 84 games, registering 29 victories, for a win percentage of 34.5%.