The Real Madrid boss has been heavily tipped to return to the West London outfit that he left after three years in charge in 2007.
While Le Saux has admitted that he could see the Portuguese coach returning to the top flight of English football in the summer, he believes that another league club could secure his signature.
"Anyone involved in the Premier League, not just with Chelsea, would be delighted to see him back," Le Saux told talkSPORT. "Whether it's with Chelsea we'll have to speculate on.
"Historically every three years he moves on to something else. As he gets older he must be looking for somewhere to stay a bit longer.
"He's a tremendous coach and personality. I wouldn't be surprised to see him back in the Premier League, but where that is, I don't know."
Mourinho has been at Madrid since 2010.