He told sport365.com that he has already discussed the possibility with the former Ferrari boss, who will contest the October elections against the independent candidate Ari Vatanen.
"Ari Vatanen is a very good candidate, and Jean Todt is an excellent candidate," Prost, 54, said.
"Jean's disadvantage is that the (F1) manufacturers are not very positive about his possible arrival. But there are also the automobile clubs to consider, the safety, the mobility, the environment … in short, an enormous amount of work," he added.
Prost raised the prospect that "other candidates" may join Vatanen and Prost in pushing for Max Mosley's job, but categorically ruled out the possibility he might be among them.
"Moreover, if Jean is there, I would never put myself against him," he insisted.
Prost did note, however, that he might be interested in a role that focused only on the FIA's sporting aspects.
"If there is something that perhaps I could justify, it would be on the matters of F1 and sport," he said. "We will have to see what is going to happen in two or three months."
Asked specifically if he could end up working alongside FIA president Todt, Prost answered: "Perhaps. It is something we have already spoken about but it cannot be decided today."