Johnson is reportedly ready to confirm that last year's World Cup final victory in Sydney was his last international appearance.
And his predecessor Dallaglio, who has previously captained England, would have no qualms about resuming the role.
"Without a doubt," Dallaglio told The Guardian.
However, he added: "I'm fairly realistic and philosophical about it.
"Form is going to be the most decisive factor in any decision. You have to be playing well which is why I'm thrilled to be in a winning Wasps side. They're giving me the platform to play well.
"From any new captain's perspective the most important factor is to be on form himself, and to ensure the whole team is prepared for the next game."