Mjallby worked as an assistant to Neil Lennon form 2010 to 2014.
The former Swedish centre-back also played for the Celts for around 200 matches in a career spanning six years.
Now, the 48-year-old has expressed his desire to return to Park Head and join Lennon as backroom staff.
When speaking to Open Goal, he said
“Oh, most definitely, yes.”
He is currently the gaffer of FC Stockholm, a fourth-tier club in Sweden.
He also had managerial spells at his country-bound clubs Vasteras SK and Gefle IF.
After his exit from Park Head, Mjallby had an experience with English club Bolton Wanderers, where he once again teamed up with Hoops’ current interim boss.
Lennon and Mjallby played together for the Celts and are long-known to each other.
The Former Hibernian manager was appointed as the interim manager, following Brendan Rodgers’ exit.
He has collected seven victories and is yet to face a defeat. Notably, he inspired his side to the Old Firm Derby win and a Scottish Cup Semi-final win.
Lennon remains a favourite to be the next permanent manager.
The Bhoys are nearing towards wrapping up the Scottish Premiership title for the eighth time in a row.
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They are set to play Hearts in the Scottish Cup final in a few weeks and hoping for a domestic treble this season.