Juve are reportedly chasing Athletic Bilbao forward Fernando Llorente, but the Republic of Ireland assistant coach believes it is the Atletico Madrid attacker who would be the best option.
“I would love Juve to sign Falcao, he would be the logical answer to the striker question,” Tardelli told La Gazetta dello Sport.
“But, for the figures being bandied around [€60m], it would be virtually impossible.”
Tardelli feels the Manchester City pair of Sergio Aguero and Carlos Tevez could also provide the side with an added attacking threat should the Serie A champions be priced out of a move for Falcao.
He added: "So in that case, I think Carlos Tevez or Sergio Aguero would be good. South Americans suit Italy well and they would both fit at Juve.
“Personally, I think Tevez would be perfect.”
The 58-year-old also reserved some praise for the Bianconeri's Andrea Pirlo and Sebastian Giovinco.
He continued: “I've often criticised Giovinco, but I have to take that back now. He's doing really well, creating space for his team-mates.
“Pirlo is someone the whole world wants. He cannot be replaced at Juve – like Michel Platini. “His game means he will still be playing at the very highest level for years to come.”
Juventus are currently top of Serie A, four points ahead of second-placed Inter.