"Honestly speaking just being selected for the World XI would be satisfying enough as it would be a recognition of my performances for Pakistan in recent months but if I get a chance to lead the World XI then it would be the icing on the cake for me," Inzamam, who is one of the only three captains selected among the probables, said.
England's Michael Vaughan and South Africa's Graeme Smith are the other two current skippers in the 30-member squad for the Super Series, while India's stand-in captain Rahul Dravid is in contention too.
Bu the ICC has confirmed that the job could also be given to a player who is not captain of any team.
Inzamam, who has scored 21 centuries in 100 Tests, said it would be a big occasion for him but added that his chances would depend a lot on Pakistan's performance in the series against the West Indies.
"Much will depend on our West Indies series. If I'm able to win, I'll be in line to lead the World XI surely," Inzamam, was quoted as saying from Antigua by The News.
"It would be a great honour to lead a side with the world's best talent. Having a batting line-up consisting of Brian Lara, Sachin Tendulkar, Jacques Kallis, Rahul Dravid, Virender Sehwag and bowlers like Muttiah Muralitharan, Shoaib Akhtar, Steve Harmison, Andrew Flintoff, Makhaya Ntini and Irfan Pathan at your disposal, it would make captaincy very interesting and rewarding," he added.
The squads for the Test and three one-dayers will be reduced to 20 in July, with a final 13 to be announced the following month. The World side could be led by two different skippers for the different formats of the game.
Inzamam recently led Pakistan to a One-day series win in India.