Jermaine Jenas is also open to a return to the club.
Jermaine Jenas has signed up to the punditry team at BBC today, agreeing a two-year contract to be a part of programmes such as Match of the Day, the Football League show and Football Focus.
The former Newcastle United and QPR midfielder is currently a free agent and is working on his fitness after suffering another serious knee injury in the spring.
Jenas has been discussing his new trade on a Facebook question and answer session today for the BBC.
Nottingham born, he was at the club from 1999 until joining Newcastle in 2002. He returned for a loan spell in 2012, but would he want to return to Nottingham Forest now.
After being asked about the future he revealed that Forest would be an ideal next move for him, and that he regrets not staying at Forest for his career:
"Yes I would [like a Forest return], definitely, given the chance. People sometimes ask me what my biggest regret is in football and it's not being able to have that 'Steven Gerrard' moment where he's playing for the team that he loves in terms of where he's from. He went to school in that area, all his friends and family are in that area... and although I got to do that for Forest, I didn't get to do it at the top level."
He also went on to discuss Forest's hopes of promotion to the Premier League this season. They have currently hit a run of bad form under Stuart Pearce, but Jenas still believes they can make it back to the big time this term:
"I do believe the Championship is as weird as it's ever been this year. I looked the other day after Forest's very poor run of games and they were still only 6/7 points from top - they hadn't won in 8 or 9 games... it was ludicrous to be honest with you! But looking at the squad, they're capable of going up. I think they were favourites at the start so... we'll see."
Jenas is expected to be back to full fitness sometime in 2015 so who knows, he might just help Forest back to the Premier League himself.