"It's a matter for us to find time to fit it in," the 47-year-old told Stockholm's Svenska Dagbladets on Thursday.
"If we can, I would be more than happy."
The six-time grand slam winner, who retired in 1996, has always been the childhood idol of Federer, who invited the Swede to work with him for a few days this month at his base in Dubai.
"The idea of the camp was that I would give my views and come up with some feedback. He wants to try some new things," said the serve-and-volley king.
Edberg added that he advised the 32-year-old Swiss to play a more attacking game in hope of avoiding long rallies with elite baseliners Rafael Nadal and Novak Djokovic.
"I was very surprised (that Federer asked) because it's so long since I left tennis," he said.
"But I was also very flattered. I've never really thought about coaching and if it had not been Federer doing the asking, honestly, I would not have been interested."
While admitting there might be room for a meeting of the minds, Edberg displayed his traditional, discreet nature, refusing to go into details about what arrangements the tennis pair might have discussed.
"Of course I have some comments as to what needs to change and evolve, but it's not the done thing that I sit here and talk about it," he said.
"I think he will be coming back. He's a great player and all the pieces are in place, he can definitely win some more grand slam titles."