Milito's side have been disappointing this season and they have won just once in their past nine games. This has led to rumours that Inter president Massimo Moratti is looking to replace under-performing coach Claudio Ranieri with someone new that can help revitalise the club's flagging fortunes.
Inter famously won the treble with current Real Madrid manager Jose Mourinho back in 2010 but in the current term, they were eliminated by French side Marseille in the round-of-16 stage.
Bilbao, on the other hand, have fared better on the European front and have eliminated Manchester United registering two victories over the Mancunian outfit. Bielsa is being tipped by many as a suitable successor to Ranieri and Milito had positive words to say about his fellow Argentinean.
He told the Corriere dello Sport: "Bielsa? He's a big coach, like Jose Mourinho. They are the best coaches I ever had."
"They are similar in many things, for example, in the way they care about the group and how to protect the team.
"I'm not surprised by the results Bielsa is having in Spain. He has always done well everywhere he's gone.
"I'm really happy for him, because he deserves these results."
Bielsa has never managed outside of Spain in Europe and he is said to be content to stay with the Basque outfit. Nevertheless, should Inter fail to achieve at least a fifth place finish and suffer further losses in the Serie A, it will be likely that there would be a vacancy for the Inter hotseat.
Inter face a crucial match against unbeaten Juventus on Monday and are six points behind fifth-placed Udinese in seventh place.