Rakitic has drawn interest from Man United in recent days with Barcelona placing a £48 million price tag for the Croatia international.
But Rivaldo has now advised the 31-year-old to reject a move to Old Trafford and extend his stay with the La Liga champions.
“There are rumours circulating about Ivan Rakitic possibly going to Manchester United but, while United is a big club with great tradition, I think the Croatian still has enough football to keep playing for Barcelona, as he is a great player,” Rivaldo told Betfair.
“United are passing through a bad moment, but their tradition is huge and any big player would like to play for them at Old Trafford.
“Now, it’s time for them to refocus and start preparing for the new season. I believe they’ll always be one of the best teams in the world.
“They continue to be financially healthy, so they should have tools to recruit big players soon.”