Cavani spent six and a half seasons in Serie A with Palermo and then Napoli, before a move to Paris Saint-Germain in 2013.
The Uruguay international has netted 18 goals in all competiitons for PSG this season, although there have been reports of a spat between the player and coach Laurent Blanc.
"Cavani is a world-class striker," Camoranesi told Tuttosport.
"Cavani and [Carlos] Tevez would be a fantastic strike partnership.
"Maybe he wouldn't be enough to ensure they [Juventus] won the Champions League, but he'd certainly help them make a leap forward in Europe.
"It's hard, there's so much competition in Europe. They still need a few years to be able to compete with the superpowers.
"It's important to show that you're a top club by getting great players on the transfer market, not average signings leaving you with five players you have to sell."
