Cole has struggled to make an impact since Carlo Ancelotti took over at Chelsea last summer and is currently out of the national team.
“Joe has had a bad injury but, if he gets fit, I think he has a great chance of getting back into the England squad,” Rooney told the Daily Mail.
“He has great skill and he can score and create goals, so he will be a fantastic player for us to have at a World Cup if he gets selected.
“He was a great player in the last World Cup in Germany. He scored a fantastic goal against Sweden and he is someone who has experience at major tournaments, which is something you always need.
“England will benefit if he is there,” he added.