Both Relegated sides Fulham and Cardiff looking for new boss
Lennon, 43, has been out of work since leaving Celtic in May after four years in charge.
"They are two excellent clubs. Would I be interested in managing either of them? Of course I would," he said on BBC Radio 5 live.
Leyton Orient manager Russell Slade is the bookmakers' favourite for the Cardiff job while former Newcastle and Norwich boss Chris Hughton is the shortest odds to take charge at Fulham.
Lennon, who led Celtic to three Scottish league titles and two Scottish Cups, said he is keen to get back into management quickly.
"I want a new challenge. I had a great challenge for four years at Celtic but I felt I had come to the end of the cycle there and wanted to do something else with my career," said the Northern Irishman, who also took the Scottish side to the Champions League last 16.
"I'm hoping to be in work sooner rather than later.
"I had four years in a goldfish bowl and it gets very intense. I have enjoyed the break, even though I didn't think I would, but you can only do that for so long."
Ole Gunnar Solskjaer left his job in charge at Cardiff on Thursday, the same day that Fulham sacked Felix Magath.