Rodman, 57, is a long-time friend of the North Korean leader, and one of the few Westerners to have met the North Korean dictator and regularly visited the secretive, authoritarian state.
In an interview with US Weekly, published on Wednesday, Rodman said: “I think that he (Kim) respects me as far as understanding my views. And Kanye, he’s doing amazing work around the world so I respect him, too.
“So hopefully one day we’ll get together and collaborate on certain things. Guess what, I’ll take Kanye West to North Korea with me.
“Matter of fact, I’m going to invite him next time I go to North Korea. If the door’s open in September, I will invite Kanye West with me to go to North Korea with me.
“If he wants to make an album about that he’ll be there for like six to seven days, and he’ll see what’s going on. Now, go make a song about this. So here you go.”
Last week, singer and songwriter West described the former Chicago Bulls player as one of his “biggest inspirations” after receiving a signed vest from him.
West posted an image of the top on Twitter thanking Rodman for the gift and paid tribute to him for “always breaking barriers with independent thought”.
In response, Rodman tweeted a video in which he suggested he and West record a song together.
“Let’s me and you do a track together man, about world peace, about leaders of love, baby, about leaders of love.”
Rodman and West have both praised US President Donald Trump and have both been seen wearing ‘Make America Great Again’ caps.
In April, West and the controversial politician posted a series of complimentary messages on Twitter.
West said of Mr Trump: “You don’t have to agree with trump but the mob can’t make me not love him. We are both dragon energy.
“He is my brother. I love everyone. I don’t agree with everything anyone does. That’s what makes us individuals. And we have the right to independent thought.”
Mr Trump – who met West when he was President-elect in December 2016 – was keen to share the praise with his own followers, telling the star the comments were “very cool”.
Following the US-North Korea summit in June between Mr Trump and Mr Kim, their mutual friend Rodman broke down in tears during an emotional TV interview in which he described the meeting as “amazing” and “a great day”.
Recalling the “many death threats” he received over his controversial visits to Pyongyang to meet Mr Kim, he told CNN: “I knew things were going to change… I knew it, I was the only one.”