Sergio Marchionne, the chairman of Ferrari, says the Italian team would have no qualms providing rivals Red Bull with engines.
Red Bull are awaiting news from current engine supplier Renault regarding their future plans in Formula 1.
It is thought the the French engine manufacture might once again become a works team or pull out of Formula 1 altogether once their contract to supply Red Bull and Toro Rosso ends in 2016. A decision is likely to be made by the end of this year.
Marchionne spent some time talking up the Milton Keynes-based team, adding that Ferrari would be more than willing to help them recover from their current slump.
"I have a lot of respect for Red Bull. I think they've done a lot for the sport, they've had the world championship for a number of years. I think they will find their way again and if we can help them get there, we'd be more than glad to do it," he said.
Red Bull dominated Formula 1 from 2010 to 2013 but have failed to replicate that form from 2014 onwards with some of their problems attributed to the underperforming Renault engine. Their struggles saw star driver Sebastian Vettel jump ship to join Ferrari.
So far in 2015, no Red Bull driver has managed a podium and Daniel Ricciardo and Daniil Kvyat have only scored 55 points between them, leaving the team fourth in the Constructors' standings, a massive 74 points behind third-placed Williams.
At the Canadian Grand Prix, Helmut Marko, motorsport consultant at Red Bull, told Austrian reporters that Marchionne has spoken to Dietrich Mateschitz, the owner of the team.
The teams do have a history, with Red Bull using Ferrari power in 2006. Marchionne provided some further insight regarding the possibility of a deal between the two teams.
"It's in our DNA, we've done it before, I think we can provide engines to any of the teams that want to race," he said.
"As long as we keep control over the aerodynamic work on the car, I think there's going to be enough distinguishing traits between us and the competition. We are more than glad to try and provide a level playing field now that the engine is there."