The reigning German champions were given another reminder of just how good the Croatian striker is in their last Bundesliga outing.
Bayern suffered a stunning 4-1 defeat at the hands of Hoffenheim, with Kramaric bagging a late brace to wrap up an impressive result for the hosts at the PreZero Arena.
The 29-year-old frontman has now netted 77 times through 153 appearances for his current club, with a forgettable spell in England being put behind him.
Kramaric managed only four goals in 20 outings for Leicester, after becoming their £9 million ($12m) record signing in January 2015, but his star is now on the rise again and Matthaus feels those in Munich should be looking to add him to their ranks alongside Robert Lewandowski.
The Bayern legend told Sky Deutschland: “Hansi Flick's praise a few days ago was no accident. Kramaric has already scored five goals after two match days and has also scored twice in the cup.
“He is a player who, in my opinion, definitely has the potential for Bayern Munich.”
The Bavarian giants still have time in which to dip into the summer transfer market.
Fresh faces may be sought as a side that enjoyed a remarkable treble triumph in 2020-21 have looked a little flat after returning to action on the back of a short break.
Matthaus added: “The new season will be a challenge for the title collectors from Munich.
“They had to push their limits for longer than any other team last season, got the treble and during the week they also had the European Super Cup [beating Sevilla 2-1 after extra-time].
“It's been a long and exhausting week and when Robert Lewandowski says he's flat, there must be something to it. We're only on the second match day and this year will be very tough for many in the Bundesliga.
“It was clear that Bayern would have to lose again after half an eternity. Compliments to Hoffenheim for making that happen. My absolute respect to the team and coaches.
“They knew how to make perfect use of Bayern's momentum and physical strain. They played very well in terms of running, physically and tactically. They made the most of their chances.”