The Blues won the title of the Iran league last season but have been without a coach since parting company with Farhad Majidi.
The former Portugal forward is the latest candidate to lead Esteghlal.
The 49-year-old coach started his coaching career in Sporting CP in 2012 and has also coached Braga, Legia Warsaw, Vasco da Gama and Gaziantep.
Sa Pinto has most recently worked in Moreirense as head coach.