The Italian has been offered almost £500,000 and the 57-year-old is now considering the offer, according to Datasport.
Novellino is an experienced coach who has worked in Italy for several years. His most recent job saw him get sacked from Reggina.
Iran failed to qualify for the 2010 World Cup finals in South Africa and went through some radical changes. Novellino reportedly has offers from other clubs too but he is said to be interested in staying in Italy.
However, the former Sampdoria tactician will make his decision in the coming days.
