The former undisputed heavyweight world champion believes that the all-British clash is a fight "the world would want to see" and likened it to his own 1993 world title clash with Frank Bruno.
Lewis told Sky Sports: "Fury needs a great fight. He needs a great British fight like I had with Frank Bruno.
"They've been talking about it for a while, whether they're going to do it or not, but I hope they do it because England loves a big fight when it comes to boxing.
"It's a respect thing - who is the greatest British heavyweight champion? People want to fight for it to be at the top.
"The whole world would love to see that fight, especially the British fans, who love a good dust up between those two big heavyweights. I would love to see that fight."
Fury retired from boxing earlier this year after losing his rematch against Oleksandr Usyk last December but has been hinting at a comeback with a trilogy bout against the Ukrainian next year after the pugilist unified the heavyweight division for a second time with victory over Daniel Dubois at the weekend.
The British fighter said on social media: "AJ got ironed out by Dubois properly and Usyk just ironed out Dubois. So, it just shows, there's all the big fights - [like] Tyson Fury and AJ - but it's quite pointless.
"The only man who's been able to beat this f***** is myself and been ripped off. I'm not sure what's going on, but you know what it is?
"GK [Gypsy King] all day, every day, still the top dog, still the top G. Beat him twice and I'll do it again. Wembley, here we come."