Dixon quit the BBC competition last month, taking up a new role on the Britain's Got Talent lineup, sitting alongside Simon Cowell, Amanda Holden and David Walliams.
Former S Club 7 star Stevens competed in the 2008 series, placing second to Holby City actor Tom Chambers.
Speaking to Digital Spy, the 33-year-old hinted that she could possibly join remaining judges Len Goodman, Craig Revel Horwood and Bruno Tonioli.
"I could definitely fill Alesha's shoes," she said. "I could give that a good go. Definitely!"
Adding that she "couldn't possibly say" if she had spoken to the BBC, Stevens said: "I'd love the opportunity to do something where I could really give my opinion, my feisty side - it'd be fun!"
The 'Some Girls' singer was appearing at Centrepoint's annual EATT event, where she joined Aldo Zilli, Allen Leech and Jessica-Jane Clement in serving dinner to homeless young people at London fish and chip shop Golden Union.
Explaining that she knew the opportunity would be a "brilliant laugh", Stevens commented: "I've always wanted to do something like this before, where you can really give something back to the community. It's a fantastic cause."
Digital Spy readers recently named Karen Hardy as their pick to replace Dixon.
> Britain's Got Talent Alesha Dixon: 'I wasn't stolen from Strictly'
> Strictly Bruno Tonioli backs Kara Tointon to replace Alesha Dixon
Watch Rachel Stevens's Strictly Come Dancing semi-final tango below: