The Roma ace quit international football after helping the Azzurri triumph in Germany seven years ago but there have been calls for Cesare Prandelli to lure him out of retirement.
The Roma legend walked away from international football after playing a key role in the Azzurri's triumph in Germany seven years ago but, in light of his spectacular form for the Giallorossi this season, there is a growing push for the 37-year-old to be brought to Brazil next summer.
Scolari, for his part, is in no doubt that Totti still has what it takes to star on the game's grandest stage.
"I like him a lot," the Selecao coach told the Gazzetta dello Sport. "He's playing well, he has quality and a great rapport with Roma. His love for this squad is incredible and we Brazilians give considerable importance to certain bonds.
"If he was Brazilian, he would have a great chance of being selected [for the World Cup], but he has the good fortune to be able to be a part of a fantastic and spectacular national team. Anyone who plays for Italy could also play for Brazil. I say this with certainty because [Italy's squad] is also very strong."
Scolari is also being urged to recall another aging star, Kaka, who appears to be on the cusp of rediscovering his very best form after returning to AC Milan from Real Madrid this summer.
"I'm happy that he decided to go back," the 64-year-old manager revealed. "He has done the right thing and I could recall him because he can return to the top."
Meanwhile, Scolari said that he could end up in Serie A when he parts company with Brazil next year, 12 years after he very nearly agreed to take charge of the Azzurri.
"Maybe one day I will coach in Italy," he mused. "We must play the World Cup, then in the summer my contract will finish and then we will see. Certainly, Italy is a draw for every coach of any nationality. Everyone would like to work there."