The Yak is on the brink of a £3m Goodison departure, with relegated West Ham the latest side to show an interest, but Amokachi thinks Moyes could regret allowing him to leave.
Amokachi told the Liverpool Echo: "Yakubu is a double digit striker and he has always scored goals in the English Premier League. Since he got that serious Achilles injury it has been harder for him and he needs a lot of support.
"But he went to Leicester and scored plenty. The Championship is a very difficult league to play in but he did it, and I think he could score goals at any level. Everton have struggled to get a striker who can score goals so it would be sad to let him go.
"Maybe Moyes can still convince him to stay, although it could be difficult for Yak to go back.
"If he can get a decent pre-season completed he could still score a lot of goals for David Moyes.
"Whatever club he goes to he will score after a good pre season. He has missed so much football lately that it's been hard for him to get his top fitness back. You never know in football, players can be a certainty for leaving one day, and then stay the next."