England will next play the United States in a friendly next month but the Italian would not reveal who would lead out the side at Wembley.
"I am undecided who will be captain for the next game," said Capello. "But I do believe Rooney could one day be captain.
"He is the most talented young English player. He is very good at everything. The one thing he can improve is the number of chances he puts away.
"He doesn't convert as many as he could but I am sure that will come in the future."
Rooney has captained Manchester United but he is known to have a combustible temperament and has a mixed disciplinary record with both club and country.
He was sent off for England in the World Cup quarter-final against Portugal in 2006, a match England went on to lose on penalties.
In 2004 a teenaged Rooney was substituted at half-time against Spain as it was feared the frustrated striker would sooner or later be sent off. A year later Rooney was criticised by Sir Alex Ferguson after he was dismissed in a Champions League match against Villarreal for mocking referee Kim Milton Nielsen.
There is no problem between Michael Owen and me as far as I am concerned
Meanwhile, Capello, speaking during a trip to Lesotho to promote the Football Association's involvement in developing the game at grassroots level in Africa, denied there was a rift between himself and Michael Owen.
The Newcastle United striker had reportedly said he was confused by Capello's tactics during the friendly defeat to France.
But Capello said: "First of all, Michael Owen has denied making those comments to begin with and I have absolutely no problem with him. There is no problem between him and me as far as I am concerned.
"My relationship with Michael Owen is the same as with all the players. A good manager should have that equal relationship whether it is with Michael Owen, David Beckham, Rio Ferdinand or anyone else.
"I have a group of players and Michael Owen is part of my plans."
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