Horwood told Digital Spy that he, Len Goodman and Bruno Tonioli had all been consulted on who should join the programme as a fourth judge, but added that the final decision was down to the BBC.
Speaking to journalists at the second series launch of classical music reality programme Maestro yesterday, Horwood admitted that Bussell was at the top of his wishlist.
The ballet dancing legend guested on the ballroom dance show two years ago.
"She's very credible, has done the show before and she'd love to do it. I'd really like to see her on the panel," said Horwood.
The BBC is expected to announce a replacement for Dixon in the summer.
Pro dancers Karen Hardy and Ola Jordan, former winner Kara Tointon and choreographer Karen Bruce are all thought to be in the running for the fourth spot.
> 'Strictly' Craig Revel Horwood: 'Alesha Dixon was not very BBC'
> 'Strictly' Ola Jordan volunteers to replace Alesha Dixon