The former Everton and Manchester United striker has spent the past year in Major League Soccer with D.C. United.
Rooney has found considerable success with the capital club since his debut in the summer of 2018, scoring 23 goals and adding 14 assists in 43 games across two seasons.
The former England international has enjoyed his time with D.C., helping them to the MLS postseason in 2018 and currently a fourth place spot in the Eastern Conference this season.
But the lure of returning to England remains strong for Rooney, and the potential appeal of a chance to get into management has caused the striker and his agent, Paul Stretford, to give the possibility serious consideration.
Derby presents a good location for him as it would be possible for the striker to commute from his home in Cheshire.
Rooney believes he can still play at a Premier League level, and has no doubts he can be an asset to a club a tier below in the Championship.
In addition, Rooney has been inspired by many of his former rivals and England team-mates as they have made the jump into management following the end of their playing days.
Chief among them is former Chelsea star and current Blues manager Frank Lampard, who parleyed a successful single season as the Rams boss into his position at Stamford Bridge.
Lampard guided Derby to the Championship play-off final, before replacing Maurizio Sarri at Chelsea this summer.
He is not alone in his success in a managerial debut, as ex-Liverpool star Steven Gerrard enjoyed a solid campaign in his first year in charge of Scottish Premiership club Rangers.