De Bruyne’s future has been a source of speculation in recent weeks after the Belgium international fell out of favour under Blues boss José Mourinho.
The 22-year-old, who spent last season on loan to Werder Bremen, has made just three Premier League appearances so far this term.
And Allofs says that Wolfburg would be interested in prising the midfielder away from Stamford Bridge should he become available.
“We, as a club, have given our signal of interest in the services of Kevin De Bruyne,” Allofs told Sky Deutschland. “This was done over the summer when it became obvious that he would be returning to Chelsea.
“Kevin de Bruyne is no first-team regular at this point in time. We will definitely consider what is going on with him.”
Speaking last week, Mourinho urged De Bruyne to work hard to win back his place at the west London club.
“Kevin has to work,” said Mourinho. “[He has] to come in my direction, I will go in his direction, too. He’s a very good player, his time will come.”
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