McGregor, 33, is currently on a two-fight skid following consecutive losses to former interim lightweight champion Poirier, also 33.
The Diamond’s dominant first-round beatdown back in July was more evidence to former champion Cejudo’s claim that the Irish MMA superstar needs to ease his way back into the Octagon.
Speaking on ‘The Triple C & Schmo Show’ podcast, he said: “I like the Tony Ferguson fight for him.
“I think that fight is winnable for Conor.
“He cannot be taking these high-level competitions. He’s gonna get hurt. He’s gonna continue to keep getting hurt.
“I think, he goes up with Tony and then maybe – of course he’s a cash cow – give him whoever he wants at 55 or 70, but I think he needs to get his feet wet.
“At least f***ing win, man. Win a damn fight.”
McGregor, a two-time UFC champion, first won the lightweight title in 2016 after outboxing and outfoxing former Bellator lightweight champion Eddie Alvarez.
But Cejudo believes there are certain areas he must improve on if he is to stand any chance of recapturing some of his former glory.
He added: “It’s crazy because there’s a lot of flaws that he has.
“As good as he was in the past, there’s still a lot of flaws that he has that he’s still not fixing.
“So I’m still not sold on that chump.”
He continued: “Show some damn wrestling, show takedown defense.
“If I was Conor McGregor with all that money that you have, have somebody to live with you full time where they’re with you, they’re dissecting you, and they’re making wrestling fun.
“He needs to find a teacher that could really teach him. Not a coach, a teacher.
“And then once you find that teacher that can really teach him, and then you put it into practice where you’re actually going live and things of that nature.”