Hamilton is to move for pastures new at the end of this season, ditching his Mercedes team for Ferrari, where he will look to claim an unprecedented eighth world title.
Vettel, meanwhile, has been out of the sport since 2022, when he retired following two rather underwhelming seasons with the Aston Martin team.
Despite this, the German has consistently failed to rule out a return, with the four-time champion still only 36 years old, six years younger than Fernando Alonso and three years younger than Hamilton.
Mercedes have a whole plethora of options to replace Hamilton, with Carlos Sainz, Alonso and 17-year-old sensation Andrea Kimi Antonelli all being touted for a move to the Brackley-based squad.
Vettel himself has confirmed talks with a number of team principals, including Mercedes boss Toto Wolff, and has admitted the temptation of an F1 return.
Now, Hamilton has suggested that Vettel would make a perfect fit with his current Mercedes team, as they look to get themselves back to winning ways.
"I would love for Seb to come back," Hamilton told media ahead of this weekend's Japanese Grand Prix.
"He would be an amazing option for the team.
"A German driver, a multi-world championship-winning driver and someone who has got amazing values and continues to take this team forward.
"There are so many great people in this team and as drivers there are some that are more selfish than others, there are some that are good drivers but perhaps not the best within team environments. I don't know because I've not been in with all of them, but I hope they find someone great.
"They've already got George [Russell] and he's perfect for the team so finding a good match alongside him. They've got so many options."