Thiago scored seven times in 32 appearances for Bayern during the 2017-18 campaign. The 27-year-old only started 12 Bundesliga matches last term, however, and his form was indifferent for long spells.
The Spain international has been linked with a return to Barca in recent weeks, and Ter Stegen has said that "it would be brilliant" if the Spanish champions managed to secure his signature.
"I would like to have Thiago at Barca. His playing style suits us and from our viewpoint he is an interesting player," Ter Stegen told Sport Bild.
"Thiago is a special type of player. He definitely would offer us different possibilities. If a transfer happened, it would be brilliant both for him and for us."
Thiago joined Bayern from Barcelona in the summer of 2013, having played over 100 times for the Catalan giants.