Hardy will take over the eponymous role of Max in the fourth instalment, which was played by Gibson in Mad Max (1979), Mad Max 2 (1981) and Mad Max Beyond Thunderdome (1985).
"I sat down with the guy and I quite like him," Gibson told Coming Soon. "I think he's a good choice for that."
Asked whether he would see the film, Gibson confirmed: "Oh yeah, I'll have a look. It'll be fun. I think he's a good actor. He commits completely and he looks great.
"There's this scary thing about him which is kind of right for that. Tom needed to sit down and talk more than I did. I'm really happy about that. But I hope they do a great job."
Gibson also revealed that long-time franchise director George Miller originally tried to persuade him to return, but that budgetary constraints prevented it.
"We talked about this very project like 10 years ago. I actually wanted to do it, but then what happened was, the budget was nuts. It was crazy. I certainly hope they've become more realistic about it."
Charlize Theron and Nicholas Hoult also star in Mad Max: Fury Road, which began shooting last month with Miller returning as helmer.
The first image from the set, featuring supporting cast members Rosie Huntington-Whiteley, Zoe Kravitz, Riley Keough and Adelaide Clemens, was released last month.
Watch Miller discussing Mad Max: Fury Road with Digital Spy below: