The Dane is running down his contract at Spurs after failing to agree a summer exit, with a host of top European clubs thought to be keen on his signature.
But World Cup winner Matthaus is unconvinced by Eriksen after his performances this year, and believes he would only be a back up for Niko Kovac’s side.
“I’ve been following the player for a long time and so far in 2019 he has disappointed me,” Matthaus told Sport 1.
“A transfer to Bayern wouldn’t make sense in my view, and would be very surprising.
“If he’s not enough for Tottenham, he’s not good enough for Bayern. [Club president] Uli Hoeness has also said before that Bayern doesn’t need any substitutes.
“Eriksen is a fine technician, a typical No.10, but he’s too slow, and Niko Kovac likes fast players.
“For me, Eriksen is not the kind of player who makes the difference at the highest level, so concentrate on the transfer of Kai Havertz next summer, and you still have Philippe Coutinho, who plays well as a ten.
“Do not forget [Thomas] Muller, who can play any position offensively and should not give up. I repeat: Eriksen makes no sense to me.”