Andre Villas-Boas says he and other Porto fans would be "very proud" if Hulk returns to the club.
The Brazilian forward has been tipped to return to Estadio do Dragao in 2021 after suggesting in a social media post that he will not be renewing his contract with Shanghai SIPG.
Hulk won 11 trophies with Porto, including four league titles and the 2010-11 Europa League, before moving to Zenit in 2012 for a reported fee of €60million.
He moved to the Chinese Super League four years later and has won the domestic league title and FA Super Cup.
Hulk played under Villas-Boas at Porto, Zenit and Shanghai SIPG, and the current Marseille head coach admits it would be something to celebrate if the 34-year-old returned to Portugal.
"I worked with him at three different clubs," he said. "I just want Hulk to choose freely.
"If he chooses Porto and Porto want it, it will probably be the last club of his career, and it will be something that makes us, Porto fans, very proud."
Villas-Boas' Marseille face Porto in the Champions League on Wednesday knowing a victory is required if they are to keep alive their chances of reaching the last 16.
The Ligue 1 side are bottom of Group C after losing their opening three games to Manchester City, Olympiacos and Porto, while they are the only team in this season's competition yet to score a goal.
They have managed just four shots on target in the 2020-21 group stage, the fewest of any team, while they have created only 12 chances, the lowest number alongside Shakhtar Donetsk.
Porto won the previous match 3-0 at home, but head coach Sergio Conceicao remains wary of underestimating their opponents.
"There are six competitive, very difficult games, and this one is no exception," he said.
"We have to look not only at the path [to qualify] but at the quality of them and their coach.
"I'm not lowering our expectations, which are to go there and win, but nothing is decided."