The Portuguese manager is currently in charge of Fenerbahce in Turkey, having previously been at AS Roma.
However, Mourinho has been lashing out at refereeing standards in Turkey, while hinting at a desire to return to the Premier League.
"Fenerbahce manager Jose Mourinho has been back in the news and media a lot recently, and the one thing you cannot do is underestimate him and his record," Shearer told Betfair.
"He creates headlines, whether that’s for winning trophies or being brutally honest as he was at the weekend when he said, ‘nobody watches the Turkish league'.
"He is box office, and I think there’s always a message he’s trying to get across in the background so it wouldn’t surprise me if this was him edging for a move back to the Premier League.
"Where could he go? Let us not forget he was recently at Roma, who are now close to their purchase of Everton - is there a subliminal message in there for what his future holds? With his record, any club in the Premier League would always be interested in him, however, he isn’t scared of telling it like it is at the football club, so he’s going to tell it like it is and he’s not afraid of causing chaos,
"It wouldn’t surprise me if we see him back in the Premier League within the next 12 months. We know he’s always spoken very highly of Newcastle, and the link comes with his connection to Sir Bobby Robson. He’s always complimented the stadium, the atmosphere and the fans thanks to that link, but Eddie Howe is rightfully going nowhere at this moment in time."