Albion are drawing up a short-list after Pepe Mel left on Monday after just four months in charge and McInnes is under consideration.
He is held in high regard at The Hawthorns following his spell there as a player and in the West Midlands he has been dubbed FAB - 'Future Albion Boss'.
McInnes, who is under contract at Aberdeen until the summer of 2017, moved to Albion from Rangers for £450,000 in July 2000. He captained them to promotion to the Premier League in 2001 and made 100 appearances for the club before joining Dundee United in 2003.
McInnes successfully cut his managerial teeth with St Johnstone and although he had an unsuccessful spell in charge at Bristol City he won both managerial awards in Scotland this season.