Dannii - widely regarded as one of the best judges in XFUK history - left in 2010 alongside Cowell and Cheryl Cole, having spent four series on the panel, of which she won two.
Following her exit, she mostly focused on her fashion projects - until last year, when she became a judge on the Australian version of the show.
Now, Kylie - who joined its rival BBC One talent contest this year - reckons it'd be a good idea for Dannii to return to the UK with her former colleagues.
In an interview with The Sun, the 'Into The Blue' singer said: "Dannii has done so well on X Factor Australia, she won it with her artist. She’s got better and better and this year. In the words of Louis Walsh, she nailed it!
"So yes, I would like to see her back. “I think I’m with the whole country when I say the show has been missing her and Simon and Cheryl. It would be very exciting to see them back."
Recently Simon announced that he will make his X Factor UK comeback this year, as the American version he left it for was cancelled.
The media mogul has also stated that he's met Cheryl to discuss her potential return - but his relationship with Dannii has been strained since he revealed they'd had an affair in his infamous 2012 biography.
Last week, Cowell appeared to confirm rumours that Nicole Scherzinger has quit the show, which begins taping its next run in the Spring.