The 58-year-old ESPN game analyst previously coached the Rockets from 2003-07, amassing a 182-146 (.555) record with three playoff appearances in four seasons.
With a pair of former MVPs in James Harden and Russell Westbrook under contract, the Rockets' job has emerged as one of the focal points of the offseason's coaching carousel.
Since moving on from two-time Coach of the Year Mike D'Antoni, the team has been closely linked to Los Angeles Clippers assistant coach Tyronn Lue, whose possible hire has reportedly garnered support from key Rockets players.
Others who have reportedly been connected to the Rockets' job include John Lucas, a former head coach and a player development coach in Houston since 2016, and David Vanterpool, an assistant coach with the Minnesota Timberwolves.
Jeff's older brother, Stan Van Gundy, has reportedly met with the New Orleans Pelicans regarding their head coaching vacancy - for which Lue is apparently also a likely finalist.