The former boss of England, Mexico and Ivory Coast is currently working in Thailand as technical director of Premier League club, Tero Sasana, on an open-ended contract. However, the 64-year-old Swede has informed his representatives that he is interested in speaking to the SFA about the position made vacant when Craig Levein was sacked last week.
As well as his trio of national positions, Eriksson has also been manager at top clubs around Europe, and has a CV which would be the envy of most.
He led England to the 2002 and 2006 World Cup finals, as well as the 2004 Euro Championships. In his five years in the job, he lifted England from 16th to fourth in the world rankings.
Wages could be an issue given Levein was receiving just over £400,000 per year, and will continue to draw a monthly wage until the contract he signed when he was appointed in 2009 runs out in 2014.
But sources revealed Eriksson has moved quickly to ensure his hat is thrown into the ring as he wants to return to mainstream football.
Gordon Strachan remains the favourite to succeed Levein, despite reports that the 55-year-old former Celtic boss had indicated he did not wish to be considered because he saw his future back in club football.
This is not the case. And, although as yet there has been no contact from the SFA, Strachan would be happy to speak to them and detail his plans for the development of our national teams.
Billy Stark will remain in charge until a new manager is appointed, and is highly regarded by the SFA kingmakers.
The fact he led Scotland to a 2-1 victory in Luxembourg last night will enhance his chances of being considered. Joe Jordan and Owen Coyle are also high in the betting for the manager's job. But the revelation Eriksson has joined the race has added a whole new dimension to it.