With Clarke's hamstring injuries raising doubts over his short and long-term future, Smith's name is doing the rounds to succeed him but Chappell opined that David Warner and Mitchell Marsh cannot be counted out.
"I think Steve is one of a number who could do it," Chappell, who was recently appointed Cricket Australia's national talent manager, was quoted as saying by 'The Advertiser'.
"I'm a great fan of David Warner, I think David could do the job and looking forward you've got fellas like Mitchell Marsh coming into the side, who is also a proven leader," he added.
"He's captained Australia at the youth level and captained Australia at a successful World Cup at youth level so he's got some leadership skills.
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"When the time comes I'm sure whoever gets will do a good job," he said.
Chappell also said that critics and fans should be patient in Australia getting another leg-spinner after the great Shane Warne.
"The thing to remember is when you have got someone like Shane Warne, that's an aberration," he said.
"If you look back through 130 years of Test cricket, Australia has probably had half a dozen good leg-spinners in that time.
"It is rarity when you've got one so you should enjoy it while they are there because they are hard to find," he said.