The 32-year-old actor - who plays teacher Will Schuester in the musical TV series - thinks the openly gay musician to appear alongside Jane Lynch's character Sue Sylvester as a love interest because he is a "living legend".
He said: "We should find a spot for him to be on the show. That would be awesome. He's a living legend. He just brings such a great energy and a great validity to everything he does.
"He should do something with Jane Lynch. I think he should maybe play her boyfriend or some kind of love interest for her. I think that would be fun."
Elton - who recently became a father for the first time - appears on Matthew's upcoming debut album, and the actor-turned singer admits it was a fantastic opportunity to work with the 'Rocket Man' hitmaker.
He revealed to People: "I didn't believe it was actually happening. I actually felt like I was a bad singer because we were singing a couple of his songs, and you're so used to hearing that voice on these songs, and I'm like, 'I don't sound good on these songs.'
"It was supposed to be a secret that he was going to be on my album, but he's kind of telling everyone, so I guess we can talk about it. He's just the most loving man, and we had the best time. He was so giving and so supportive. We just had a ball."
If Elton was to accept a role on 'Glee' he would be the latest in a long line of guest stars to appear in the series. Previous additions to the cast have included Britney Spears, Gwyneth Paltrow and Neil Patrick Harris.
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