Lennon has been out of work since leaving Celtic in February last year in the midst of a failed attempt at landing a 10th Scottish Premiership title in a row, having previously helped land a historic quadruple treble.
Now the Northern Irishman is keen on a return to the dugout and admits the job at Sunderland, who have also been linked with Roy Keane, Grant McCann and Paul Cook, would tempt him.
He told talkSPORT: "It's very appealing I think.
"It has a fantastic fanbase and in a reasonably good position in the league, that would be a job anyone would be interested in.
"But it is so competitive now, the manager's race to get back in or keep your job."