The former Rangers manager's popularity with some in the Tartan Army might be in doubt after he left Scotland to rejoin Rangers, but McCulloch feels he would be a great choice to replace Craig Levein.
'I've never met a guy or a manager so respected within the game," said McCulloch.
"He can get a reaction from someone from not saying a word – all he needs is that famous Walter stare. If he did go back I'm sure the players and fans would be delighted. Had it been any club other than Rangers he left Scotland for, then I could see why people would have a pop but everyone knows what Rangers means to him."
McCulloch was sad to see the demise of Levein, a man who also carried respect in the dressing room, and feels that whoever gets the job will need time to turn things around.
"Gordon Strachan has got a brilliant record and did great at Celtic," said McCulloch. "If he was too get it then I think it could be a good appointment."