Bayern are searching for a replacement for Jurgen Klinsmann, who was sacked on Monday following an inconsistent run of results.
Jupp Heynckes has been named as manager on an interim basis until the end of the season but they will be looking to bring in a more high-profile name in the summer.
Beckenbauer has hinted that he would like that man to be Hiddink, although he accepts the Russia and Chelsea boss is unavailable.
"We are in need of an experienced seafarer like Jupp Heynckes," Beckenbauer told Bild.
"I hope we can get a coach who is somewhere in the class of Guus Hiddink."
UnderestimatedBeckenbauer is disappointed that Klinsmann was not successful in the role but insists it was the right decision to make a change
He explained: "We thought he (Klinsmann) would have a bonus thanks to what he did at the World Cup, but there were many fans who were against him from the very first day.
"We underestimated the effect of this atmosphere against him."