Jardine, who has fought a brave battle against liver and throat cancer in the last year, has welcomed the prospect of King investing in his boyhood heroes once again.
The South Africa-based businessman, who ploughed £20million of his personal fortune into the Glasgow club in 2000, has agreed in principle to become chairman.
Certain conditions - like having full access to the club's accounts - will have to be met before the 58-year-old rejoins the board.
However, Jardine, who has monitored the ongoing power struggle at the League One club closely, believes his involvement would be greatly beneficial.
For the Rangers legend believes there must be significant investment in order for Rangers to challenge their Old Firm rivals when they return to the top flight.
"I know Dave King and I got on well with him previously," he said. "I think he would be good for the club.
"We will get back into the top division, I have no doubt about that. We have to go and compete against Celtic - straight away. To do that, we need investment so that we can get better players.
"Dave's a big Rangers man, there's no doubt about that. Dave King would be a great asset for our club. He would be an even bigger asset if he can bring investment in with him."
Jardine was speaking at the launch of Mr Struth: The Boss by David Mason and Ian Stewart.
It is published by Hachette and costs £20.