Low has been head coach of Germany since the end of the 2006 World Cup, where he served as an assistant to Jurgen Klinsmann, and has led the team to consecutive World Cup finals in South Africa and Brazil.
Ballack said Low should leave the post after Brazil 2014, despite having a contract until 2016.
"The contract with him was extended (in October 2013) so that no annoying questions arose during the World Cup," Ballack told The Express.
"This was wise from the German Football Association but I think that Low should not continue at this juncture. The pressure and burden on him would be too great."
Under Low's leadership, Germany made the semi-finals of South Africa 2010, losing to eventual champions Spain 1-0.
Low also inspired Germany to a final berth at Euro 2008, where they again lost 1-0 to Spain, and the semi-finals four years later, only to succumb 2-1 to Italy.
But Ballack denies his claims are about success, arguing Low should leave even if Germany triumph in Brazil.
"(Even if they win) he'll probably go because there's no possible improvement after winning a World Cup," the 37-year-old former midfielder said.
Germany will begin their World Cup campaign against Portugal in Salvador on June 16, before taking on Ghana in Fortaleza five days later.
Low's men will complete their Group G fixtures with a match against the United States in Recife on June 26.
