Speaking to MTV, the 'Black and Yellow' rapper revealed that he has great respect for Minaj, who is currently preparing to support Britney Spears on the 'Femme Fatale' tour.
"[Nicki is] awesome," he said of the 'Super Bass' performer.
"She's a hard worker, she makes really good music and she's really diverse, which is important - not only in hip-hop but just in music in general."
He added that he would "absolutely" take the chance to collaborate with Minaj, saying that they would create "whatever [music they] feel like that day".
"When I get in the studio, I don't really have anything in mind. I just hear stuff and then we make it happen from there," he added.
Khalifa recently admitted that his fanbase has become more varied as his career progresses.
Watch the video for Wiz Khalifa's 'Black and Yellow' below: