Conte, who won three Serie A titles with Juventus between 2011-2014, joined Spurs on an 18-month contract last November and his deal runs out at the end of the season.
Reports in Italian media put Conte in the frame to replace Allegri if he parts ways with Juve, who are eighth in Serie A and have lost their opening two games of the Champions League group stage for the first time.
"This is disrespectful for the coach that works in Juventus and also disrespectful for me working for Tottenham," Italian Conte told reporters ahead of their Premier League game against Arsenal on Saturday.
"There doesn't exist a right time (to sign a contract). It could be tomorrow. It could be the last day of the Premier League season. The most important thing for me and the club is to understand we want to continue together, to go in the same direction ...
"At the right time, I will take the best decision. At this moment, I'm really happy."
Spurs can take top spot in the Premier League with a victory against leaders Arsenal.
