The Frenchman was an integral part of the Bayern side that completed a historic Treble last season, and Matthaus, who won the title after captaining Germany to the 1990 World Cup, feels that Ribery would be a worthy winner.
"Franck has already won Uefa's Best Player in Europe award, and that means he has a great chance of winning the Ballon d'Or," Matthaus told AZ.
"He certainly deserves it. He has thrilled us all with his outstanding displays at Bayern, not only with his dribbling but also with his work rate for good of the team.
Ribery's side are currently top of the Bundesliga.