Real president Florentino Perez has fanned the transfer flames by previously stating that a global superstar would have a better chance of landing the Ballon d’Or if he did switch to Madrid.
Camacho has now echoed those comments, with a man who spent 15 years with the Blancos as a player admitting that the club should always be in the market for the very best talent available.
He told Cadena SER: “I think that Madrid should always sign the best and Neymar is one of them.
“If I could I would sign him. You have to have those that can fight for the Ballon d’Or.”
Neymar left Barcelona after operating in the shadow of Lionel Messi at Camp Nou.
He has become the star attraction in Paris, although an untimely injury has forced him to undergo surgery on a broken metatarsal.
Crucial fixtures, such as Champions League last-16 encounter with Real, will now be sat out, while the 26-year-old faces a race against time to recover full fitness in time for this summer’s World Cup.
PSG will be hoping to see him head to that tournament fully committed to their cause, with the Ligue 1 title challengers having invested heavily in the pursuit of major honours.
Camacho acknowledges that ambition may be enough to keep the likes of Neymar happy, with the French outfit having taken giant strides under the guidance of president Nasser Al-Khelaifi and Qatar Sports Investments.
He added: “PSG now has changed a lot. Before it did not have the roots it has now.
“With the arrival of Arab money, it has signed a lot of talent and is trying to command world football.”
If PSG are to stake another claim to controlling the European game, then they will need to overturn a 3-1 deficit against Real on Tuesday and prove that they are about much more than just Neymar.