The head coach Pearce has, so far, refused to reveal whether the 37-year-old LA Galaxy midfielder will be chosen as one of the three over-age players allowed to compete in the under-23 tournament.
"I know David would love to play for Team GB — and he should. It would be a great chance for him to achieve his Olympic dream," Ronaldo told The Sun.
Beckham played a pivotal role in delivering the Games to London, acting as an ambassador, and was part of the UK delegation that traveled to Athens to see the official handover of the Olympic flame.
"I do not have a reason why he shouldn’t be picked (to compete)," Ronaldo told the newspaper. "It would be good for GB and it would be good for the tournament for him to play in his home city. He has a chance to make history.
"There is no doubt that the whole world would like to see him play."