The iconic ex-Brazil star believes that the Barcelona and Real Madrid target should give something back to the club where he has made his name
The attacker is currently mulling over contract offers believed to be from the two Spanish clubs after the Brasileiro side accepted bids for the 21-year-old on Friday.
Pele admits that if he had the money he would buy Neymar to ensure he stayed at Santos, and believes he owes a debt to the club where he made his name even though he appears to have his heart set on a move to Europe.
"He needs to pay his dues to Santos," Pele told O Rai on Friday.
"If I could, I myself would buy [Neymar] to help him stay at Santos. They are a team that have thrived with youth players - they did not spend any money for me, [ex-Brazil forward] Pepe, [former attacker] Coutinho and now with Neymar. I think the club should keep him."
Neymar had suggested in the past that he would remain at Santos until after World Cup 2014, but Santos are keen to cash in on the starlet as he enters the final year of his current contract.