The Bavarians have been heavily linked with a move for the 25-year-old, with CEO Karl-Heinz Rummenigge strongly suggesting that the Bundesliga champions could look to activate his release clause, which will reportedly drop to €25 million (£20m) next summer.
Beckenbauer expects many of Europe's elite to be interested in a player of Reus's calibre and told Bild: "I can imagine him at Bayern very well.
"If you can get a player of his class, you need to try it. If he doesn't go to Bayern in 2015, he will probably go to another big club like Real Madrid or Manchester United.
"Dortmund will probably not be able to hold on to him. I can understand why Dortmund don't like discussion about Reus."
Dortmund have reacted angrily to Bayern's comments about Reus's release clause but Beckenbauer feels that it was not too much of an issue.
"The amount of the release clause probably wasn't a big secret," he argued. "Every interested party probably knew it."