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Serkis, who plays the ape Caesar with performance-capture technology, recently admitted his frustration that the method is not taken as seriously as conventional acting.
Wyatt agreed with Serkis's assertion that performance-capture is no different to heavy make-up.
He told Digital Spy: "When you have an actor playing these roles - and that's the beauty of performance-capture - it's so very different from key-frame digital animation, because you have at the heart of the performance a terrific actor.
"He is the kernel. He's the one that you're following and echoing in terms of the role. I mean, he plays Caesar in the same way that John Hurt played the Elephant Man beneath all of that make-up.
"I think the fact that he's been acknowledged for what he's achieved in this role is a wonderful thing. So yeah, of course it'd be great [if Serkis received an Oscar nomination]."
Rise of the Planet of the Apes has topped the US and Australian box office charts since its release.
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Watch our interview with Rise of the Planet of the Apes director Rupert Wyatt below:
