The Paris Saint-Germain striker has so far rejected the temptation to ply his trade in the Premier League despite several lucrative offers.
The 33-year-old recently voiced his displeasure at the standard of refereeing in France and Schmeichel believes that his former side should pounce, should the Sweden international opt to seek a new challenge in the summer.
"What Zlatan does with PSG is quite incredible," he told L'Equipe. "He gives PSG so much credibility and visibility. There we rumors last summer sending him to Manchester United. I said back then that he was built to play for United."
Schmeichel spent the first half of his United career playing alongside the charismatic Cantona and believes that Ibrahimovic, like the Frenchman, would revel in the unique opportunity that playing at Old Trafford provides.
"Why was Cantona so strong when I was there and not that strong in Leeds or France? Because it's Manchester United," he added.
"There's this freedom given to players but also responsibilities. We don't care what you like or who you are, we care about what you do on the pitch and the influence you have on the team. If you don't respect that, you leave.
"You can have the personality you want. Beckham, Cantona, they blossomed at Manchester United. Thousands of players tried to be Beckham or Cantona but failed because they didn't have the personality."