The actor, who recently returned to his own role as womaniser Ciaran McCarthy on the ITV1 soap, explained that he is still friends with 74-year-old Johnny Briggs, who played the Weatherfield legend for 30 years.
Mike was killed off in 2006 after Briggs decided that he wanted to go into semi-retirement. Viewers saw the character passing away after suffering a heart attack.
Despite this, Duffy has now told PA: "I'd love Mike Baldwin to come back. I shot a lot of scenes with him before I left the last time and Johnny and I have a pint sometimes in Manchester.
"I get on very well with him, we play a bit of golf together and he often travels to Dublin for charity golf events with me so he's one person I'd like to work with again."
Last year, Briggs appeared to rule out a return to Weatherfield by claiming that it would be "a bit silly" for Mike to come back from the dead.
> Click here to read our recent interview with Keith Duffy