The Paraguayan, who scored 33 goals in 46 games last season, has been linked with a number of European clubs in recent months.
However, Mackay, who led Cardiff to promotion to the Premier League last season, has hinted that he could make a move for the striker.
"I know all about the attributes of Cardozo. I know exactly how he plays. I think he would suit our game and would be interesting for us," Mackay told Sport.
Manchester City have also been linked with his services.