The Reform UK MP insisted the "country would welcome him with open arms".
Mr Anderson highlighted how there had been a surge in new members to the populist party when he defected earlier this week and said it would be even bigger if Mr Farage returned.
Asked about Mr Farage on GB News, the Ashfield MP said: "What you saw when I joined, I think it was 2,000 members. There were 2,000 members signed up within 48 hours. And that's just for a little old me.
"If Nigel decided he was going to stand somewhere, imagine that you'd have 10, 20 or 30,000 people.
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"So I thought he was a great asset to the party. He's been probably the most influential politician over the past 25 to 30 years, and I think the country would welcome him with open arms."
Asked again if he wants Mr Farage back in frontline politics, Mr Anderson added: "Of course I do."
The former deputy Tory chairman was unveiled as Reform UK's first MP on Monday following weeks of speculation over his political future.
Mr Anderson lost the Tory whip last month after refusing to apologise for claiming "Islamists" had "got control" of London Mayor Sadiq Khan.
Mr Farage is honorary president of Reform UK, which he previously led when it was called the Brexit Party.
It comes amid ongoing rumours over whether he will make a political comeback following his stint on I'm A Celebrity... Get Me Out Of Here.
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