Ferguson could yet make a dramatic return to international football after refusing to rule out the prospect of pulling on the dark blue jersey again.
The Birmingham midfielder had initially rejected Scotland boss Craig Levein's offer to make a comeback, opting to focus solely on his club career instead, after being banned for his part in the "Boozegate" affair 18 months ago.
Now, with hope of Ferguson playing for the national team resurrected again, Miller claims the 32-year-old still has plenty to offer.
He said: "I'm sure every player in the squad would like to see Barry back. He's a fantastic footballer.
"I watched him on Sunday (playing for Birmingham against Liverpool) and he was fantastic, as he was the whole of last season.
"When he's playing at that level, there is a definite place for him in our team. You miss people like that.
"Barry has an influence on a game where he can calm things down and take the sting out of a game, he's got that in abundance.
"He would be a big, big addition to the squad if Barry feels it's the right time to come back.
"He's good on the park and off the park. He's a winner. He has played at the top level all his days and he knows what it takes to win games.
"If he does come back, he will be a welcome member of the squad."
Miller has no worries about Ferguson being thrown straight back into the action for the Euro 2012 qualifiers against Czech Republic and Spain, insisting he is more than capable of handling the double-header.
"Of course he could," he said.
"I said, back when it all kicked off, as a nation we can't afford to miss our best players and there is no doubt Barry Ferguson is one of them.
"If he comes back into the squad, it will be a big, big positive for us going into those two games."
Birmingham boss Alex McLeish believes the lack of international football last year contributed to Ferguson's excellent club form.
Miller can understand McLeish's reluctance to see Ferguson take on extra matches for Scotland but believes his former Rangers team-mate could cope with the schedule.
"Barry will know that himself and, if he felt he couldn't do it, he wouldn't do it," he said.
"He is playing fantastically well for his club and, in that sense, his manager maybe does have a reluctance for him to do it because he is playing so well for them.
"But Barry is a fit lad, and he always has been a fit lad, so personally I can't see it being that much of a problem for him.
"That's a decision that Barry and his manager will have to make without any of our help."