The 20-year-old continues to be linked with a return to England after a hugely impressive spell with Borussia Dortmund.
"It would be good [if Sancho joined]," Rashford said on an Instagram Live chat. "Sancho's a great player and he's like a new generation player.
"It's definitely exciting to watch him become the player he's becoming. Hopefully we can all play together, that would be good.
"He plays off the cuff, he's creative and imaginative - these are the things you need to be world class."
However, it is believed that any club looking to sign Sancho would need to meet Dortmund's hefty asking price of €130m.