AAP understands that Walters was sounded out by the ARL Commission to talk about the role, adding the former Brisbane mentor to a list of candidates.
Former Parramatta coach Brad Arthur had been the early favourite to be Bears' first coach, after he met with the initial Perth bid consortium last year.
Warrington mentor Sam Burgess has also confirmed his interest, while Australia coach Mal Meninga is also being seriously considered.
Walters took the Broncos to the 2023 NRL grand final after resurrecting the club's fortunes.Â
He was controversially sacked at the end of 2024 after they missed the finals, but was instrumental in launching the careers of most of the current Brisbane roster.
"I have always said that coaching is my passion. I love coaching," Walters told AAP.
"It was just a chat. I'm serious about it. I haven't been offered the job. It was just informal discussions about whether I would be interested.
"I am (a career coach). It is in the blood. It has always been in the blood."
The six-time premiership winner has been working for Fox League this year, but has made no secret of his desire to return to the coaching box.
Walters has also been linked with the top job at the Gold Coast, if the Titans were to move on Des Hasler.
Titans CEO Steve Mitchell downplayed any interested in the Broncos legend this week.
The Walters development comes days after the NRL appointed former media figure Anthony De Ceglie as the Bears' first CEO.
A board will also be enacted in coming weeks, with at least three West Australians to figure.
But appointing a coach looms as one of both the ARL Commission and Perth's most important decisions, with the club able to hit the open market on November 1.
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