The pair worked together at Liverpool before Reina was sent on loan to Napoli for three seasons and then signing on a permanent deal.
Reina, 34, is said to be unhappy with life at Napoli, even though they finished third in Serie A this term to qualify for the Champions League.
Benitez reckons Reina’s experience and thinks he would be invaluable to Newcastle who have been promoted back to the Premier League.
“I have a great personal relationship with Reina," Benitez said.
"He's a great goalkeeper.
Rafa Benitez celebrates Newcastle promotion Mon, April 24, 2017
Click for the best snaps of Rafa Benitez celebrating Newcastle's promotion to the Premier League
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Click for the best snaps of Rafa Benitez celebrating Newcastle's promotion
Pepe Reina is believed to be unhappy with life at Napoli
Rafa Benitez is open to working with Pepe Reina again
Pepe is a great player, but above all, a leader in the dressing room
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"Pepe is a great player, but above all, a leader in the dressing room.
“We missed him at Napoli in the year he went to Bayern Munich, he can make a difference both on and off the pitch.
"Would I take him to Newcastle if he left? I respect Napoli, as that's where he is, and our club has a lot of goalkeepers who are doing well.
“We need to be calm, we'll talk to the club and decide on our targets."
Reina has just 12 months left to run on his Napoli contract.