But Millers face battle to lure him away from Spotland.
Hill is rated very highly for the work he has done over many years with Rochdale, cementing them in League One and pushing for a play-off place on a regular basis.
The 47-year-old was lured away by Barnsley for a season in 2011 before returning to Rochdale, where he has continued to build what is now almost a dynasty at the club.
But his work has not gone unnoticed and Rochdale have turned down numerous approaches to land him. But now they look set to get another with Rotherham keen on talking to him, sources close to the club have confirmed to HITC Sport.
The Millers are already looking for their third new manager of the season, after Kenny Jackett walked out on them just weeks after he took over from Alan Stubbs.
Hearts boss Robbie Neilson has already turned down the chance to take charge at the New York Stadium, instead opting for League One club MK Dons.
HITC Sport also understands that as well as former Middlesbrough and Celtic boss Tony Mowbray, David Flitcroft, who has just left Bury, is another candidate for the role.