The Bavarians are on the cusp of retaining their league crown and are already through to the DFB-Pokal final, but were knocked out of Europe's premier club competition at the last 16 stage by Liverpool.
Additionally, Kovac's future is far from certain and Magath – who spent three years in charge of Bayern, winning two Bundesliga titles and two DFB-Pokal trophies – insists that he should be given time and a new crop of players to work with, especially with veteran stars the likes of Arjen Robben and Franck Ribery set to depart..
"Of course, we should not ignore the effect Niko Kovac had on the success of this Eintracht Frankfurt team," Magath told Omnisport after Kovac led Eintracht to DFB-Pokal success at the expense of Bayern last season.
"I am convinced that he will be able to finish a difficult first year at Bayern Munich [by] lifting two trophies in May.
"However, he will need some more top players who proved themselves internationally to get back to the highest level throughout next year's Champions League campaign."
Bayern host Kovac's former side Eintracht in the final match of the season on Saturday and only need a draw to beat Borussia Dortmund to the title.
They will then face RB Leipzig in the DFB-Pokal final in Berlin on May 25.