Fabrizio Ravanelli said he would "bend over backward" to reappoint former Italy head coach Antonio Conte following Gian Piero Ventura's sacking.
The Italian Football Federation (FIGC) confirmed Ventura's dismissal on Wednesday after Italy failed to qualify for the World Cup for the first time since 1958.
Italy's streak of 14 consecutive World Cup appearances came to an end following Monday's goalless draw against Sweden in Milan as the Scandinavians triumphed 1-0 on aggregate.
The FIGC said it will consider "important names" to replace Ventura and former Italy international Ravanelli insisted the country must turn to Chelsea's Conte, who left the role last year having reached the Euro 2016 quarter-finals.
"I'd bend over backward to get Antonio Conte back," Ravanelli told Tuttomercatoweb.
"I'd try to convince him in every way, because what he did with the national team was something great.
"He's an innovator, and he really knows how to rebuild the whole environment.
"That's how Germany did really well. The Azzurri shirt is something you have to sweat for and earn."
On Ventura – who left Daniele De Rossi frustrated during the second-leg play-off after asking the veteran midfielder to warm-up instead of star forward Lorenzo Insigne as Italy desperately sought an equaliser – Ravanelli added: "It is understood that he was no longer followed by the group. He had lost the team's credibility and De Rossi's outburst showed it."
